Sunra Capital Holdings Limited. There is an option to increase the investment by $2 million.
Last month, 24/7 Real Media moved its stock listing to the SmallCap Market. The online media services company’s stock continues to trade under the symbol TFSM. The company had not met the $1 minimum bid price required for continued listing on the National Market System and was subject to delisting.
The New York-based firm has until Aug. 13 to meet the requirement but could be given until Feb. 10, 2003 to regain compliance, the company said. Last July, 24/7 Media, as it was then known, was in also in danger of delisting and later appealed the decision, the stock remained listed.
As of March 31, 2002, the company had reduced its loss from continuing operations to $3.7 million, down from $10.3 million for the quarter ended Dec. 31, 2001.
As of yesterday afternoon, 24/7 Real Media, New York, stock was selling for 21 cents a share.
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