Radio group Regent Communications, already under the Nasdaq delisting gun for failing to maintain a stock price of at least $1/share, received another notice from the exchange, this time for failing to maintain a minimum $15M total share value benchmark for 30 consecutive business days.
It has 90 days, until 3/22/10, within which to put together a streak of 10 consecutive business days with a value above that mark to come back into compliance.
Regent had already been notified of possible delisting owing to its low per/share value on 11/30/09, and no actions will occur pending a hearing scheduled for 1/7/10.
Regent has the option of requesting a transfer from the Nasadaq Global Market to the Nasdaq Capital Market, but will have to improve its stockholder equity standing to meet minimum requirements for that move.
At midday 12/24/09, the company’s website listed the price per share at $0.20.