Item 3.01 - Notice of Delisting or Failure to Satisfy a Continued Listing Rule
or Standard; Transfer of Listing
On September 15, 2009, Harris Interactive Inc. (the "Company") received a letter
from The Nasdaq Stock Market (the "Notice") notifying the Company that for 30
consecutive trading days preceding the date of the Notice, the bid price of the
Company's common stock had closed below the $1.00 per share minimum required for
continued listing on The Nasdaq Global Market pursuant to Nasdaq Marketplace
Rule 5450(a)(1) (the "Minimum Bid Price Rule"). The Notice also stated that,
pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has been provided
180 calendar days, or until March 15, 2010, to regain compliance with the
Minimum Bid Price Rule. To do so, the bid price of the Company's common stock
must close at or above $1.00 per share for a minimum of ten consecutive trading
days prior to that date.
If compliance with the Minimum Bid Price Rule cannot be demonstrated by
March 15, 2010, Nasdaq will provide written notification to the Company that the
Company's common stock is subject to delisting. At that time, the Company may
either appeal Nasdaq's delisting determination to a Nasdaq Listing
Qualifications Panel (a "Nasdaq Panel") or apply to transfer its securities to
The Nasdaq Capital Market, provided that the Company meets the initial listing
criteria, with the exception of bid price, as set forth in Nasdaq Marketplace
Rule 5505. If the Company were to elect to apply for such transfer and if it
meets the other initial listing criteria and its application is approved, the
Company will be notified that it has been granted an additional 180 calendar day
period in which to regain compliance with the Minimum Bid Price Rule while on
The Nasdaq Capital Market. If the Company's application is not approved, Nasdaq
will provide written notification that the Company's securities will be
delisted. At that time, the Company may appeal the delisting determination to a
Nasdaq Panel.
The Company intends to actively monitor the bid price for its common stock
between now and March 15, 2010, and will consider available options to resolve
the deficiency and regain compliance with the Minimum Bid Price Rule.
Section 9 - Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit 99.1 Press Release issued by Harris Interactive Inc. on
September 21, 2009
|
