Direct marketing network Aptimus Inc. may request to move to the Nasdaq Small Cap Market, after receiving notice that it does not meet requirements for listing on the Nasdaq National Market.
Nasdaq informed the Seattle company that the market value of its publicly held shares were not high enough for continued listing.
Aptimus requested an oral hearing before the Nasdaq Listing Qualifications Panel to appeal the de-listing decision. But will move to the Small Cap Market if the appeal is unsuccessful.
Aptimus’ stock price was $1.26 yesterday. The stock’s 52-week range is between $0.13 and $2.35. During the first quarter ended March 31, the company reported accumulated losses of approximately $57.3 million.
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