Integrated Media Technology (IMTE) said Wednesday it has been notified by Nasdaq that it is not in compliance with the listing requirement to maintain a minimum bid price of $1 per share.
According to Nasdaq, the company's common stock has had a closing bid price below $1 for 30 consecutive business days.
Integrated Media said the notice has no immediate effect on the listing or trading of its shares, and that it has 180 calendar days, or until June 29, to regain compliance.
Shares were down over 1.7% in recent Wednesday trading.
Price: 0.53, Change: -0.01, Percent Change: -1.67
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