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IMRIS (T.IM) gets notice of bid price deficiency from NASDAQ

Stockhouse Editorial
0 Comments| August 29, 2014

IMRIS (TSX: IM, Stock Forum) hasn’t been pulling its weight in the market according to NASDAQ Stock Market LLC and as a result, the company announced today that it had received notice that it had slipped out of compliance due to the fact it had traded below the minimum $1.00 per share for the previous 30 consecutive business days.
According to the news release, the company has 180 calendar days or until February 23, 2015 to regain compliance and if at any time the company manages to trade over the minimum for at least ten consecutive business days, it will be deemed as compliant and the matter will be closed.
However, if the company is unable to regain compliance during the aforementioned time period, NASDAQ may deem the company worthy of an extension, subject to the company satisfying certain of the market’s conditions. If the company is unable to rectify the situation by February 23, 2015 and isn’t granted an extension, its stocks will be subject to delisting by NASDAQ.
IMRIS was in the news recently when the company announced the departure of its CFP, Kelly McNeill yesterday.
Shares slipped 8.08% on the news to $0.91 per share.
Currently there are 52.0m outstanding shares with a market cap of $46.8 million.

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