Market to the SmallCap Market Thursday. The online media services company’s stock will continue trading under its current symbol TFSM.
The company did not meet 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.
As of March 31, 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.
This is not the first time the company has been in danger of being delisted.
Last July, 24/7 Media, as it was then known, was in danger of delisting and later appealed the decision, the stock remained listed. As of yesterday afternoon, 24/7 Real Media stock was selling for 24 cents a share, down 3.92% from the day before.
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