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TMNG > SEC Filings for TMNG > Form 8-K on 18-Sep-2009All Recent SEC Filings

Show all filings for MANAGEMENT NETWORK GROUP INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for MANAGEMENT NETWORK GROUP INC


18-Sep-2009

Notice of Delisting or Failure to Satisfy a Continued Listing Rule o


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

(a) The Management Network Group, Inc. (the "Company") received a letter from The Nasdaq Stock Market Inc. ("Nasdaq") on September 16, 2009, notifying it of its failure to maintain a minimum closing bid price of $1.00 over the then preceding 30 consecutive business days for its common stock, as required by Nasdaq Marketplace Rule 5450(a)(1) (the "Rule"). The letter stated that the Company has until March 15, 2010 to demonstrate compliance by maintaining a minimum closing bid price of at least $1.00 for a minimum of 10 consecutive business days.

The Company may be eligible for an additional grace period if it meets the initial listing standards, with the exception of the minimum bid price requirement, for the Nasdaq Capital Market and transfers its securities from the Nasdaq Global Market to the Nasdaq Capital Market prior to March 15, 2010. If the Company does not regain compliance with the Rule and has not transferred its securities to the Nasdaq Capital Market by March 15, 2010, Nasdaq will provide the Company with written notification that its common stock is subject to delisting. At that time, the Company may appeal Nasdaq's determination to delist its common stock to a Nasdaq Hearing's Panel.

The Company has not yet determined what action or response, if any, the Company will take regarding the non-compliance.

A copy of the press release issued by the Company on September 18, 2009 announcing the receipt of the letter from Nasdaq is filed herewith as Exhibit 99.1 and incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. Exhibit No. Description
99.1 Press Release


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