NEW YORK: Medialink is in danger of a NASDAQ delisting. It filed official forms with the SEC that it received a deficiency notice from NASDAQ on August 14, the 27th day its common stock closed below $1. NASDAQ rules state if a company's stock closes under $1 for 30 consecutive business days, it is in violation of the exchange's marketplace rules.
Medialink has until February 10, 2009, to regain compliance or be delisted, which would place it on the Over-the-Counter Bulletin Board. It will continue on NASDAQ until then.
Calls for comment to Medialink were not returned by press time.
Last week, PRWeek reported that sources say Medialink is considering selling, though CEO Laurence Moskowitz said it was a rumor.