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Reps at Leapnet said that the Chicago-based i-shop has been notified its stock is subject to delisting from the Nasdaq National Market because it has failed to trade at least at $1 for ten consecutive trading days. The agency has requested a hearing before a Nasdaq panel to review its staff determination.
Last month, the company said in a Securities and Exchange Commission filing that it is considering a five-to-one reverse stock split as a way to prop up its share price.
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