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Quotes & Info
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| BIDZ > SEC Filings for BIDZ > Form 8-K on 9-Nov-2012 | All Recent SEC Filings |
9-Nov-2012
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tr
On November 9, 2012, BIDZ.com, Inc. (the "Company") received notification from The NASDAQ Stock Market (NASDAQ) stating that the NASDAQ Hearings Panel has determined to delist the Company's shares of common stock from The NASDAQ Stock Market, effective at the open of business on Tuesday, November 13, 2012. The delisting of the Company's common stock is a result of the Company's failure to regain compliance with the $1 minimum bid price for its common stock for continued listing, pursuant to NASDAQ's Listing Rule 5550(a)(2), and the failure to comply with Listing Rules 5605(b)(1) and 5605 (c)(2), which require the Company to maintain board and audit committee independence. The Company's common stock is expected to trade on the OTCQB Marketplace under the Company's current symbol "BIDZ" upon delisting from the NASDAQ Capital Market. The OTCQB Marketplace is a market tier operated by the OTC Market Group Inc. for over-the-counter traded companies. The delisting and transition to the OTCQB Marketplace does not change the Company's obligations to file periodic and other reports with the SEC under applicable federal securities laws.
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