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Article: Mitek Systems, Inc. Receives Nasdaq Notification.
- Article from:
- PR Newswire
- Article date:
- March 29, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mitek Systems, Inc. , today announced that it received a Nasdaq Staff Notification on March 22, 2004, stating that Mitek does not meet the requirement for continued listing of $2,500,000 in stockholders' equity. Nasdaq stated that based upon Mitek's Form 10-Q for the quarter ended December 31, 2003, rather than the $2,500,000 required by Nasdaq Marketplace Rule 4310(c)(2)(B), Mitek has stockholders' equity of $1,621,276, or a shortfall of approximately $900,000.
Nasdaq informed Mitek that its common stock will be delisted from the Nasdaq at the opening of business on March 31, 2004, unless a hearing is requested. Mitek requested a hearing on March 26, 2004, in ...