Radio One is still working to resolve the issue of past accounting for it stock option granting practices and restate its past financial statements. Until that is done, the company is not able to file its most recent annual statement for 2006 and its quarterly statement for Q1 of 2007. It has now received a second notice from the Nasdaq staff about the delay in the Q1 filing (the first was for the late annual report). Radio One said it requested an extension when the Nasdaq Listing Qualifications Panel held a hearing May 3rd and that decision is still pending. Meanwhile, Radio One's stock continues to trade on Nasdaq as before.