InsWeb Corp. (NASDAQ:INSW) today announced that on March 31, 2006, it received written notification from NASDAQ stating that based upon the company’s recent Form 10-K filing, the company does not comply with the minimum $10,000,000 stockholders’ equity requirement for continued listing on The NASDAQ National Market.
NASDAQ indicated the Company has until April 17, 2006 to submit a specific plan and timeline to achieve and sustain compliance with all NASDAQ National Market listing requirements, including the minimum stockholders’ equity standard, or to apply for transfer to The NASDAQ Capital Market, formerly The NASDAQ Small Cap Market.
InsWeb said it has begun the application process to transfer the listing of its shares to The NASDAQ Capital Market. If and when the transfer to The NASDAQ Capital Market is approved, InsWeb common shares will trade under the same stock symbol, “INSW.” Until that time, InsWeb’s shares will continue to trade on the NASDAQ National Market, said InsWeb.
InsWeb enables consumers to compare multiple, actionable quotes for auto, term life, health, homeowners, renters and condominium insurance offerings from many insurers. The online insurance marketplace also provides live customer service, interactive tools and independent research. Headquartered in Sacramento, Calif., InsWeb is accessible at .