Nasdaq Could Delist iPrint, May Apply for American Stock Exchange Listing
Friday, June 01, 2001
06/01/01 - (WhatTheyThink.com) - Nasdaq officials have notified iPrint (now iPrint Technologies) that the company will be delisted if the firm does not meet the $1 per share trading price for 10 consecutive days prior to June 6th or if iPrint fails to meet other listing requirements. The company has not traded above $1 since February of this year. Yesterday’s closing price was $.50 per share. iPrint is an online printing technology and infrastructure provider. iPrint creates technology that improves the print-buying process. Clients include Oracle, 3M, OfficeMax, Microsoft, and Intel. Today, the company announced a 2 year contract with PeopleSoft. Sources say the “actual delisting could take months if at all as the company could appeal and other regulatory procedures.” According to a statement from the company to WhatTheyThink.com, "Nasdaq has notified iPrint that the delisting process may begin as early as June 6th. At that point, we intend to pursue a hearing with the Nasdaq committee. We may also pursue other avenues which are outlined in the "risk factors" section of iPrint's most recently filed 10-Q, such as applying to the American Stock Exchange. We continue to monitor the situation as closely as appropriate."