Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On November 6, 2008, NaviSite, Inc. (the "Company") received notice from the
Nasdaq Stock Market that the Company is not in compliance with Nasdaq
Marketplace Rule 4310(c)(3), which requires the Company to have a minimum of
$2,500,000 in stockholders' equity, $35,000,000 market value of listed
securities or $500,000 of net income from continuing operations for the most
recently completed fiscal year or two of the three most recently completed
fiscal years.
The Company has until November 21, 2008 to provide Nasdaq with a specific plan
to achieve and sustain compliance with all Nasdaq Capital Market listing
requirements. The Company expects to submit a compliance plan on or prior to
November 21, 2008.
In the event that the Company receives notice that its common stock is being
delisted from the Nasdaq Stock Market, Nasdaq rules permit the Company to appeal
any delisting determination by the Nasdaq staff to a Nasdaq Listings
Qualifications Panel.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NaviSite, Inc.
Date: November 12, 2008
By: /s/ James W. Pluntze
James W. Pluntze
Chief Financial Officer