iGo Corp. (Reno, NV) announced that it has received preliminary notification from Nasdaq indicating that the company is not meeting the $1.00 minimum bid price requirement for continued listing on the Nasdaq National Market under Marketplace Rule 4450(a)(5). Under the notification, iGo has until May 15, 2002, to regain compliance with the minimum bid price requirement. If the company does not regain compliance by May 15, Nasdaq is expected to issue a determination letter indicating that iGo's shares will be delisted.
“We continue to monitor the situation with our bid price and will make the necessary determinations as we approach the May deadline,” said acting President and CEO David Olson. “For the time being, we are focusing on the growth of our core product businesses and hope that our stock price will reflect our progress in those areas.”
