Nestor shares fall below Nasdaq minimum level

PROVIDENCE – Nestor Inc. has been notified by Nasdaq that, as of April 23, the market value of the company’s common stock had fallen below the stock-market’s minimum level of $1 per share for 30 consecutive days.
In accordance with Nasdaq rules, Nestor was given 180 calendar days – until Oct. 22 – to regain compliance. To do so, Nestor’s common stock must close at a bid price of $1 per share or higher for at least 10 consecutive business days.
If Nestor cannot demonstrate compliance by Oct. 22, Nasdaq will launch a review to determine whether the company meets other criteria for listing on the stock market. If the company does not, its stock will be delisted; if Nestor meets all other listing criteria, it will be given another 180 days to regain full compliance.
Nestor announced it has signed three-year contracts with the cities of Corrigan and Hudson, Texas, northeast of Houston, for the installation and operation of automated traffic enforcement services.
Nestor Inc., the parent of Nestor Traffic Systems, is a provider of video-, photo- and LiDAR-based traffic enforcement systems and services.

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