Verticalnet risks losing Nasdaq spot

0 Comments | Philadelphia Inquirer, The, May, 2007 | by Miriam Hill Inquirer Staff Writer

Verticalnet Inc. says it has received a letter from Nasdaq saying the Malvern company is subject to delisting for failing to meet certain capital and net-income requirements.

Nasdaq wrote May 23 that Verticalnet needed to maintain minimum stockholder equity of $2.5 million, a market value of $35 million for listed securities, or $500,000 in net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.

The company listed shareholder equity of $1.27 million on its March 31 quarterly earnings statement. The value of Verticalnet's listed securities is $3.97 million. The company, which licenses supply-management software, lost $2.5 million on revenue of $3.4 million in the period that ended March...