MediaBay Inc., an online marketer of audio books, will request a hearing before the Nasdaq Listing Qualifications Panel for continued listing of its common stock on the Nasdaq National Market.
On Sept. 27, the Cedar Knolls, NJ firm received a letter from the staff of Nasdaq indicating that it failed to regain compliance with the stock market’s rules requiring that MediaBay common stock close at a minimum bid price of $1.00 as of Sept. 22.
The hearing request will stay the delisting of MediaBay’s common stock that would otherwise have occurred, pending the Panel’s decision.
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