Company to trade in the Over-the-Counter Market
CLEVELAND, June 4 /PRNewswire-FirstCall/ -- DATATRAK International, Inc. (Nasdaq: DATA), a technology and services company focused on global eClinical solutions for the clinical trials industry, today announced that it received notification on June 2, 2009 that a NASDAQ Listing Qualifications Panel has determined to delist the Company's securities from The NASDAQ Stock Market, effective with the open of business on Thursday, June 4, 2009. The delisting is the result of the Company's failure to meet the $2.5 million stockholders' equity requirement or one of the alternative continued listing criteria. As previously disclosed, on August 18, 2008, the Company received a notice from the NASDAQ Stock Market indicating it was not in compliance with NASDAQ's minimum equity requirement.
The Company has been advised by Pink OTC Markets Inc., which operates an electronic quotation service for securities traded over-the-counter, that its securities are immediately eligible for quotation effective with the open of business on June 4, 2009. The Company's common shares will continue to trade under the symbol DATA.
The Company's common shares may, in the future, also be quoted on the Over-the-Counter Bulletin Board (the "OTCBB"), an electronic quotation service maintained by the Financial Industry Regulatory Authority ("FINRA"), provided that a market maker in the Company's common shares files the appropriate application with, and such application is cleared by, FINRA. The Company anticipates disclosing further trading venue information for its common shares once such information becomes available.
About DATATRAK International, Inc.
DATATRAK International, Inc. is a worldwide technology company focused on the provision of multi-component eClinical
|SOURCE DATATRAK International, Inc.|
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