Atrinsic, a marketer of direct-to-consumer subscription products, including Kazaa - a digital music subscription service, and owner of an internet search marketing agency, Atrinsic Interactive, announced that, on June 7, the Company received a favorable determination from the NASDAQ Listing Qualifications Staff indicating that the Staff has granted the Company's request for the transfer of its listing to The NASDAQ Capital Market.
In a release dated June 10, the Company said securities will begin trading on The NASDAQ Capital Market effective with the open of business on Friday, June 10. The transfer of the Company's listing from The NASDAQ Global Market to The NASDAQ Capital Market should have no impact on trading in the Company's shares, and the Company's stock will continue to trade on NASDAQ under the symbol ATRN.
As previously disclosed, on April 14, the Staff notified the Company that it no longer satisfied the $10 million stockholders' equity requirement for continued listing on The NASDAQ Global Market. The Company subsequently submitted an application for the transfer of its listing to The NASDAQ Capital Market, particularly in light of the Company's belief that it satisfies and will continue to satisfy the criteria for continued listing on The NASDAQ Capital Market, including the applicable $2.5 million stockholders' equity requirement.
Kazaa is a subscription-based digital music service.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
No comments:
Post a Comment