Monday, August 9, 2010

Active Power Back In NASDAQ Compliance

Austin-based Active Power, a developer of flywheel-based uninterruptible power supplies, reports this morning that it is back in compliance with the NASDAQ's $1.00 minimum bid price requirement. The firm had been warned on March 24th that it had fell below the minimum bid price, which put the firm on warning under the NASDAQ's listing rules. The firm said it common stock has now been at $1.00 per share or greater for at least 10 consecutive business days, putting it back into compliance with the rule. The NASDAQ typically warns firms when they violate various listings rules, and allows those firms to appeal or fix those issues before a delisting or downgrade to another exchange.