Impedance cardiography (ICG) developer CardioDynamics of San Diego has received a letter from the Nasdaq stock exchange stating that its stock is noncompliant with Nasdaq listing requirements.
The letter states that the company's stock fails to meet the exchange's $1 per share bid requirement. CardioDynamics said it is in the process of implementing a one-for-seven reverse stock split designed to bring the company back into compliance with Nasdaq requirements.
The split is expected to become effective after the company's annual shareholders meeting on May 8.
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CardioDynamics outlines Nasdaq compliance options, August 9, 2007
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