Wednesday, April 9, 2008
Kintera Gets Nasdaq Notice
San Diego-based Kintera, a maker of software-as-a-service for nonprofit and other organizations, disclosed Tuesday afternoon that it has received a notice from the Nasdaq Stock Market, indicating that it has failed to comply with Nasdaq minimum share bid prices for the firm's stock. Kintera said that the letter indicated that it has failed to comply with Nasdaq Marketplace Rule 4450(a)(5), which requires a minimum $1.00 per share bid price for the Company's common stock, for 30 consecutive business days. The notification -- which is the first step in possible delisting of a company -- gives the firm's 180 calendar days to regain compliance with the $1.00 minimum share price requirement. According to Kintera, under Nasdaq Marketplace Rule 4450(e)(2), the company has an initial period of 180 calendar days to regain compliance with the listing requirement. Kintera develops software used for donor management, customer relationship management, email and communications, web sites, and other functions for organizations such as nonprofits and local governments.