eDiets.com Announces Receipt of NASDAQ Staff Determination
August 05, 2011 4:38 PM
eDiets.com, Inc. (NASDAQ: DIET) today announced that on August 3, 2011, it received a NASDAQ Staff Determination indicating that the Company did not regain compliance with the minimum $35 million market value of listed securities requirement set forth in NASDAQ Listing Rule 5550b2. As a result the Company's common stock would be subject to delisting unless the Company requests a hearing before a NASDAQ Listing Qualifications Panel to seek additional time to regain compliance.
The Company intends to request a hearing before a Panel and, upon making this request, the Company's common stock will remain listed on The NASDAQ Capital Market until the Panel renders a decision following the hearing. There can be no assurance that the Panel will grant the Company's request for additional time to regain compliance.
