Nance opened this issue on Aug 14, 2014 · 66 posts
WandW posted Thu, 14 August 2014 at 8:17 PM
Here is the press release. Their stock price just needs to increase a few cents per share over the next 6 months to meet NASDAQ's standard....
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On August 7, 2014, Smith Micro Software, Inc. (the "Company") received a letter from the Nasdaq Stock Market LLC ("Nasdaq") which stated that, based upon the reported stockholders' equity of $9,610,000 disclosed in the Company's Form 10-Q for the period ended June 30, 2014, the Company no longer meets the requirement set forth in Nasdaq Rule 5450(b)(1)(A), which requires companies listed on the Nasdaq Global Select Market to maintain a minimum of $10,000,000 in stockholders' equity for continued listing (the "Minimum Stockholders' Equity Rule").
In accordance with Nasdaq's Rules, the Company has been provided with a period of 45 calendar days to submit a plan to regain compliance. If the Company's plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from the date of the letter, or until February 3, 2015, to regain compliance with the Minimum Stockholders' Equity Rule. The Company intends to submit a plan to Nasdaq within such 45 day period and is currently considering available options to regain compliance with the Minimum Stockholders' Equity Rule as promptly as possible. The Company will also have the option to file a transfer application to list the Company's securities on the Nasdaq Capital Market
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The Wisdom of bagginsbill:
"Oh - the manual says that? I have never read the manual - this must be why."