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NEW YORK 24/7 Real Media has appealed a Nasdaq ruling that the company’s stock is subject to delisting from the SmallCap Market, given that it no longer complies with the $1 minimum bid price requirement for continued listing.
The company’s shares (TSFM) were trading on the Nasdaq midday today at 39 cents, down 4 cents or 9.3 percent. Its 52-week high is 65 cents and 52-week low is 14 cents.
The online advertising and technology company said it received a letter from Nasdaq dated May 13, stating that its common stock would be delisted as of the opening of trading tomorrow unless the company requested a hearing to appeal the exchange’s ruling by yesterday.
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