Wednesday, August 30, 2006
Worldspace Recieves NASDAQ Listing Deficiency Letter
WORLDSPACE(R) Receives NASDAQ Listing Deficiency LetterCompany Will Address NASDAQ Market Value Requirements by Issuing Class A Shares in Exchange for Outstanding Class B Shares
SILVER SPRING, Md., Aug 30, 2006 /PRNewswire-FirstCall via COMTEX/ --
WORLDSPACE Satellite Radio (
WRSP)announced today that it received a NASDAQ Staff Deficiency Letter on August 24, 2006 indicating that the Company did not comply with the minimum $50 million market value of listed securities requirement for continued listing set forth in Marketplace Rule 4450(b)(1)(A). As of August 23, 2006 NASDAQ's calculation of the market value of listed securities was $47,804,046 based on current shares outstanding of 21,341,092 and a closing bid price of $2.24...read more:
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