Internet Gold receives noncompliance notice from Nasdaq
Internet Gold reported that it received a notice from the Listing Qualifications Department of Nasdaq advising the company that it is not in compliance with Rule 5450 requiring maintenance of a minimum market value of publicly held shares, or MVPHS, of $5M. The company has a 180 days' period, until December 2, to regain compliance with the $5M MVPHS. If the MVPHS closes at $5M or more for a minimum of ten consecutive business days, the company will regain of compliance and the matter will be closed. In the event the company does not regain compliance with the rule prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting. Alternatively, the company may apply to transfer the company's securities to the Nasdaq Capital Market, subject to meeting the Nasdaq Capital Market's continued listing requirements.