IFON big news out! IT WILL STAY ON THE NASDAQ!!
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On June 6, 2017, InfoSonics Corporation (the "Company") received a letter from the Nasdaq Office of General Counsel advising the Company of the decision of the Nasdaq Hearings Panel (the “Panel”) after the Company’s oral presentation to the Panel at a hearing held on June 1, 2017. On May 2, 2017, the Company had been notified of its failure to regain compliance with the $1.00 per share minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2) following the expiration of two 180-day periods in which to regain compliance previously provided by Nasdaq. The Company presented a plan to the Panel to regain compliance with the minimum bid price requirement and requested a further extension of time to execute the plan, which includes a reverse stock split. The Panel granted the Company’s extension of time until October 30, 2017.
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