Summary of AUTOBYTEL INC - Yahoo! Finance

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tr

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On September 15, 2009, Autobytel Inc. ("Company") received a written notification ("Notice") from the NASDAQ Stock Market LLC ("NASDAQ") advising the Company that the closing bid price of the Company's common stock ("Common Stock") for the previous 30 consecutive business days had been below the minimum $1.00 per share ("Minimum Price Requirement") required for continued listing on the NASDAQ Global Market pursuant to NASDAQ Marketplace Rule 5450(a)(1) ("Rule"). The Notice does not result in the immediate delisting of the Company's Common Stock from the NASDAQ Global Market.

Pursuant to NASDAQ Marketplace Rule 5810(c)(3)(A), the Company has been provided an initial grace period of 180 calendar days, or until March 15, 2010, to regain compliance with the Minimum Price Requirement. The Notice further provides that NASDAQ will provide written confirmation stating that the Company has achieved compliance with the Rule if at any time before March 15, 2010, the bid price of the Common Stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, unless the NASDAQ staff exercises its discretion to extend this 10 day period in accordance with the Listing Rules.

If the Company does not regain compliance with the Rule by March 15, 2010, NASDAQ will provide written notification to the Company that the Common Stock is subject to delisting from the NASDAQ Global Market. If the Company receives such notification, the Company will have an opportunity to appeal the determination to a NASDAQ Hearing Panel. Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing on the NASDAQ Capital Market, other than compliance with the Minimum Price Requirement. To avail itself of this alternative, the Company will need to apply to transfer the listing of its Common Stock to the NASDAQ Capital Market.

As required by NASDAQ Marketplace Rule 5810(b), the Company has issued a press release as of September 18, 2009 reporting the receipt of the Notice and the NASDAQ rules upon which it is based. A copy of the press release is attached hereto as Exhibit 99.1 and the information contained therein is incorporated herein by reference.