Interactive marketing and technology company 24/7 Real Media Inc. will request a hearing to appeal a Nasdaq staff determination that the company no longer complies with the $1 minimum bid price requirement for continued listing.
New York-based 24/7 received a letter from Nasdaq last week saying that the company’s stock will be delisted as of the opening of trading on May 22, unless the company requests a hearing. Until then, 24/7’s common stock will remain listed and will continue to trade on the Nasdaq SmallCap Market.
At the hearing, 24/7 will request an extension of time to raise its stock price.
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