Austin software maker regains Nasdaq compliance, won't be delisted
Crossroads Systems Inc., an Austin-based software maker, has emerged from another brush… more[1]
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Crossroads Systems Inc.[2], an Austin-based software maker, has emerged from another brush with Nasdaq regulators.
The company said Wednesday[3] it is back in compliance with stock market rules requiring companies to maintain shareholders' equity of at least $2.5 million.
Companies must comply with a long list of requirements to be traded on the stock exchange, including maintaining a stock price of at least $1 per share. Companies that fall out of compliance for 30 straight days can be removed, like what happened earlier this month with Austin-based energy holding trust Whiting USA II[5]. However, it is a drawn out process: companies not in compliance have 90 days to meet the listing standards, or 180 days if their share price fell below $1.
References
- ^ more (www.bizjournals.com)
- ^ Crossroads Systems Inc. (www.bizjournals.com)
- ^ The company said Wednesday (www.bizjournals.com)
- ^ more (www.bizjournals.com)
- ^ with Austin-based energy holding trust Whiting USA II (www.bizjournals.com)