Friday, September 10, 2010

Quantum Technologies Gets Delisting Notice

Irvine-based Quantum Fuel Systems Technologies, a developer of renewable energy, energy storage, and hybrid electric drive systems for the electric car industry, said late Thursday that it has received a delisting notice from the Nasdaq. According to to Quantum, the Nasdaq Staff determination letter said that the company has not regained compliance with a $1.00 minimum closing bid price requirement for continued listing on the Nasdaq Global Market. The firm said it has submitted a request for a hearing with the Nasdaq LIstings Qualifications Panel to request continued listing, and also is looking to get approval for a 1-for-20 reverse stock split. Quantum Fuel Systems supplies its systems to Fisker Automotive. The firm is listed on the Nasdaq as QTWW.