July 19, 2004 — (WEB HOST INDUSTRY REVIEW) — Internet service and Web hosting provider DSL.net (dsl.net) said last Friday that Nasdaq has given the company an extension to comply with the requirements of the Nasdaq Smallcap Market’s minimum bid price rule by August 6, 2004. The minimum bid price rule requires all Nasdaq listed companies to close at a minimum bid price of $1.00 for 10 consecutive days in order to continue being listed.
r
r
The company said it believes it can meet the minimum bid-price requirement through a reverse stock split, which it has the authority to implement. DSL.net has also submitted a listing application to the American Stock Exchange.
r
r
DSL.net, which transferred to the Nasdaq Smallcap Market in July of 2002, has already received several extensions on its deadline to comply with the minimum bid price rule.
