NU Online News Service, July 10, 2003, 11:45 a.m. EDT – The NASDAQ Stock Market has warned Healthaxis Inc., Irving, Texas, that the company’s stock is subject to delisting because the price has fallen below $1 per share.
Healthaxis says it will ask for a hearing. The request for a hearing should postpone any move to delist the stock, the company says.
The company is in the process of arranging a reverse stock split that could bring the share price back over the $1-per-share minimum.
Healthaxis has said that it believes it continues to meet all other requirements for a NASDAQ Stock Market listing.