Business Context and Reporting Period
This Form 8-K filing by Bridgeline Digital, Inc. (BLIN) was submitted on September 22, 2011. The report addresses a regulatory notice received from The NASDAQ Stock Market regarding the company's compliance with continued listing standards.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The only financial metric disclosed is the market price of the company's common stock, which fell below $1.00 per share for 30 consecutive business days.
Material Changes
The material event reported is the receipt of a notice from NASDAQ stating the company is not in compliance with Marketplace Rule 5550(a)(2) due to the minimum bid price of its common stock being below $1.00 per share. This notice has no immediate effect on the listing status, and the stock continues to trade on The NASDAQ Capital Market.
Outlook, Risks, and Contingencies
- Compliance Deadline: The company has been granted 180 calendar days, until March 20, 2012, to regain compliance.
- Remediation Path: Compliance can be achieved if the closing bid price meets or exceeds $1.00 per share for at least 10 consecutive business days.
- Delisting Risk: If compliance is not met by March 20, 2012, NASDAQ will issue a notice that the securities are subject to delisting.
- Extension Possibility: If delisting is imminent, the company may be eligible for an additional 180-day grace period if it meets all other initial listing standards for The NASDAQ Capital Market.
Key Facts for Investor Verification
- Verify the current trading price of BLIN to assess progress toward the $1.00 threshold.
- Monitor the company's ability to maintain a closing bid price of $1.00 or higher for 10 consecutive business days before March 20, 2012.
- Review subsequent filings for any updates on the delisting status or potential extension requests.