iGo Faces Delisting; Requests Hearing

Reno, NV—Looks like more bad news for wireless products marketer iGo Corp. On July 17—the same day iGo (Nasdaq: IGOC) announced a 27% staff reduction—the marketer received notification from Nasdaq that its stock was subject to delisting for failing to comply with the $1.00 minimum bid price requirement for continued listing on The Nasdaq National Market (Nasdaq Marketplace Rules 4450(a)(5) and 4310(c)(8)(B)). On July 17, iGo’s stock closed at .55 per share.

iGo plans to file a request for an oral hearing before the Nasdaq Listing Qualifications Panel. The company anticipates a hearing within approximately 45 days, at which time iGo intends to request an extension of time to come into compliance with the $1.00 minimum bid price requirement. iGo stock will continue to be traded on The Nasdaq National Market pending the outcome of the hearing. If the company’s appeal is denied, its common stock will be delisted.