Metro Global Media of Cranston, an adult entertainment video and print company, said it is appealing a ruling by Nasdaq that resulted in it being delisted from Nasdaq’s SmallCap Market on Dec. 7. Metro Global has until Wednesday (Dec. 22) to request the appeal. Meanwhile the company has begun trading on what is known as the pink sheets, with information available on the Internet through www.otcquote.com and www.bloom-berg.com. Company officials also said they would consider other options for listing, including both foreign and domestic exchanges.
The company said that Nasdaq took its action even though its panel acknowledged that Metro “currently appears” in compliance with filing, audit committee and independent director requirements.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
In October the company reported a 30 percent increase in revenues for the quarter ended Aug. 29 to $7.1 million, but a net loss of $784,400 compared to $381,823 for the same period a year ago.
