Business Services Industry
DSL.net gets $30 million but faces delisting.(International)
XDSL News, August, 2003
DSL.net Inc., a provider of broadband communications services to businesses, announced that it received a Nasdaq staff determination indicating that the company's common stock failed to comply with the $1.00 closing bid price per-share requirement for 10 consecutive trading days as set forth in the Nasdaq's Marketplace Rule 4310(c)(4). As a result, DSL.net common stock is subject to delisting from the Nasdaq SmallCap Market.
DSL.net is requesting a hearing before a Nasdaq Listing Qualifications Panel for a review of the staff determination. That review will determine whether DSL.net will be listed on the Nasdaq SmallCap Market or on the Over the Counter (OTC) bulletin board. Under the Nasdaq's rules, the delisting process is postponed pending the hearing and...
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