Cartesian, Inc. (NASDAQ:CRTN) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01
Cartesian, Inc. (NASDAQ:CRTN) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
(a) On May 15, 2017, Cartesian, Inc. (the “Company”) received a letter from The Nasdaq Stock Market (“Nasdaq”), notifying the Company of its failure to maintain a minimum closing bid price of $1.00 over the preceding 30 consecutive business days for its common stock, as required by Nasdaq Marketplace Rule 5550(a)(2) (the “Rule”).
The letter stated that the Company has until November 13, 2017 to demonstrate compliance by maintaining a minimum closing bid price of at least $1.00 for a minimum of 10 consecutive business days. The Company may be eligible for an additional grace period of 180 days if (i) it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement, for the Nasdaq Capital Market, (ii) it provides written notice of its intention to cure the deficiency during the second compliance period, and (iii) Nasdaq determines that the Company will be able to cure the deficiency. If the Company does not regain compliance with the Rule, Nasdaq will provide the Company with written notification that its common stock is subject to delisting. At that time, the Company may appeal Nasdaq’s determination to delist its common stock to a Nasdaq Hearings Panel.
The notification letter received from Nasdaq has no immediate effect on the listing of the Company’s common stock at this time. The Company has not yet determined what action or response, if any, the Company will take regarding the non-compliance.
About Cartesian, Inc. (NASDAQ:CRTN)
Cartesian, Inc., formerly The Management Network Group, Inc., is a provider of professional services and technical solutions to the communications, digital media and technology sectors. The Company has three segments: the North America segment, the EMEA segment and the Strategic Alliances segment. The North America and EMEA segments include the Company’s operational, technology and software consulting services inside of North America and outside of North America, respectively. Both the segments offer management consulting, custom developed software and technical services. The Strategic Alliances segment includes the Company’s around the world commercial activities undertaken with third-party service or solutions providers. It provides a portfolio of consulting services and managed solutions to clients in the communications, media and technology industries, including technical consultancy; revenue and cost management; technology solutions, and investment advisory services. Cartesian, Inc. (NASDAQ:CRTN) Recent Trading Information
Cartesian, Inc. (NASDAQ:CRTN) closed its last trading session up +0.018 at 0.658 with 8,697 shares trading hands.
Cartesian, Inc., formerly The Management Network Group, Inc., is a provider of professional services and technical solutions to the communications, digital media and technology sectors. The Company has three segments: the North America segment, the EMEA segment and the Strategic Alliances segment. The North America and EMEA segments include the Company’s operational, technology and software consulting services inside of North America and outside of North America, respectively. Both the segments offer management consulting, custom developed software and technical services. The Strategic Alliances segment includes the Company’s around the world commercial activities undertaken with third-party service or solutions providers. It provides a portfolio of consulting services and managed solutions to clients in the communications, media and technology industries, including technical consultancy; revenue and cost management; technology solutions, and investment advisory services. Cartesian, Inc. (NASDAQ:CRTN) Recent Trading Information
Cartesian, Inc. (NASDAQ:CRTN) closed its last trading session up +0.018 at 0.658 with 8,697 shares trading hands.