pennystockhaven
  • Facebook
  • Twitter
  • Youtube
  • Rss
Day-Trading Penny Stocks
  • Home
  • Services
  • Contact Us
Home» BUZZ on the Street » InfoSonics Corporation (IFON): Settled Back for The Next Leg Up

InfoSonics Corporation (IFON): Settled Back for The Next Leg Up

Posted on December 27, 2013 by PennyStockHaven in BUZZ on the Street, Commentary, Stock Market Movers & Losers

IFON announced on December 19, 2013 that it received a letter from the Nasdaq Listing Qualifications Staff (the “Staff”) advising that the Staff had determined that:

  • The Company had not regained compliance with the $1.00 per share minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2) as of December 9, 2013
  • Unless InfoSonics requested an appeal of this determination by December 26, 2013, trading of the Company’s common stock would be suspended from The Nasdaq Capital Market at the opening of business on December 30, 2013 and a Form 25-NSE would be filed with the Securities and Exchange Commission (the “SEC”) to remove the Company’s securities from listing and registration on The Nasdaq Stock Market (the “Delisting”).

verycool-blackInfoSonics intends to submit an oral hearing request on or before December 26, 2013 to the Nasdaq Hearings Panel (the “Panel”), which request will stay the Delisting and expects to present to the Panel a plan that includes a discussion of the reasons why InfoSonics believes it can regain compliance, as well as confirm to the Panel that IFON is prepared to effectuate a reverse stock split in order to regain compliance if necessary. The Panel will rule on whether to grant the Company relief from the Delisting (including setting forth the specific requirements of any such relief) or go forward with the Delisting, following the hearing.
On December 18th, 2013 InfoSonics announced that it had entered into a non-exclusive Distribution Agreement with Ingram Micro Mobility (formerly Brightpoint, Inc.), a wholly owned subsidiary of Ingram Micro Inc. (IM).

Joseph Ram, InfoSonics President and CEO, commented:

We are very pleased to enter into this agreement with Ingram Micro Mobility to distribute our verykool® phones in the United States. We view this as a win-win scenario for both parties in which InfoSonics will gain access to Ingram Micro Mobility’s vast distribution network to carriers, retail and on-line customer channels and Ingram Micro Mobility is able to expand its product offerings to include the verykool® family of competitively priced and innovative products.

IFON, InfoSonics Corporation

Search

Real Time Alerts:

Tweets by @PennyStockHaven

Updates

  • CVR Partners, LP (NYSE: UAN): the dividend play

    February 26, 2023
  • Sotera Health

    Sotera Health Company (NASDAQ:SHC): hard road ahead

    February 21, 2023
  • ZIM Integrated Shipping Services (NYSE:ZIM) uphill movement

    February 20, 2023
  • Carvana Co. (NYSE: CVNA) way to go… down

    February 17, 2023
  • ReWalk Robotics (RWLK): Yesterday, Today and Tomorrow

    June 8, 2019
  • Amyris, Inc. (AMRS): How to Mislead Investors

    April 21, 2019
  • ADMA Biologics, Inc. (ADMA): Offering is Imminent

    April 11, 2019
  • Proteostasis Therapeutics (PTI): Market Overreaction

    March 26, 2019
  • Dynagas LNG Partners LP (NYSE: DLNG) Coming Off Of Bottom

    February 1, 2019
  • Histogenics Corporation (HSGX) market: only upside from these levels

    September 5, 2018
  • Quantum Corp. (QTM): Appointed Jamie Lerner as Chief Executive Officer and President

    June 26, 2018
  • FuelCell Energy (NASDAQ:FCEL) A picture is worth a thousand words

    June 22, 2018
    Micro & Small Cap Stocks

    * required

    *



    *



     
    Remember, if you’re not fully satisfied with our service, you can always opt-out of receiving our newsletter. We don’t spam and we’ll never sell your email to anyone else. We respect our subscribers’ privacy.

    Site

    • Home
    • Services
    • Contact Us
    • About Us
    • Privacy Policy
    • Terms of Use
    • Disclaimer
    • Publishers

    Financial Network

    Yahoo Finance
    Reuters
    The Motley Fool
    WSJ
    CNBC
    Business Week
    The Street
    Bloomberg

    psh sloganYour Everything Penny Stocks Resource



    Copyright © 2021 PennyStockHaven.com. All Rights Reserved