The Nasdaq stock market has suspended stock price requirements for three months, giving a temporary reprieve to companies like Log On America that are faced with delisting.
The suspension was enacted in response to the terrorist attacks of September 11 and the subsequent effects on the economy. It will last until January 2.
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Log On America was scheduled for a hearing before Nasdaq on September 13. The hearing was postponed after September 11.
Companies with stock prices trading below $1 per share could face delisting by Nasdaq. Log On America’s stock price has been closing below $1 consistently since March 26.
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