Quepasa.com to be Delisted From Nasdaq
The delisting notice means the company was unable to maintain a minimum bid price of $1 during the previous 30 consecutive trading days.
Quepasa, which launched in 1998, faces a delisting as early as Feb. 6 if the bid on the price of its common stock does not trade above $1 for a minimum of 10 consecutive trading days.
The company, which was unavailable for comment, does not plan to appeal the decision, according to a statement. Instead, it intends to apply for listing on the Over-the-Counter Bulletin Board market.
Quepasa, Phoenix, cut two-thirds of its staff last month, slashing its staff to 20 from 58.