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Hydrogenics Faces Delisting from Nasdaq
11 May 2007
Nasdaq has notified Hydrogenics Corporation, a provider of hydrogen generation and fuel cell products and services, that it is not in compliance with the Nasdaq Stock Market’s requirements for continued listing due to the continued low stock price.
For 30 consecutive business days, the bid price of Hydrogenics’ common stock closed below the minimum $1.00 per share requirement for continued inclusion under Nasdaq rules.
Hydrogenics has 180 calendar days—until 6 November 2007—to regain compliance with the Minimum Bid Price Rule. If at any time before 6 November the bid price of Hydrogenics’ common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the company will be back in compliance. Failure to achieve compliance will result in delisting.
May 11, 2007 in Brief | Permalink | Comments (2) | TrackBack (0)
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I would imagine that a reverse stock split would do the trick. It would make the stock worth more per share with fewer shares outstanding. This is done with venture funded companies before going public, I do not know what NASDAQ rules are however.
Posted by: SJC | May 11, 2007 at 11:14 AM
Its far more likely that if they have any iseful ip they will get gobbled as its that time.
Posted by: wintermane | May 11, 2007 at 08:25 PM