Onvia warned by Nasdaq |
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Onvia warned by Nasdaq
Onvia, one of the few publicly traded Seattle Internet companies left over from the dot-com boom, has received a letter from Nasdaq saying it doesn't comply with certain financial requirements of the stock exchange. In a press release today, the online marketplace for sales leads said it received a notice because it does not have a minimum stockholders' equity of $10 million.
Onvia said it can either submit a plan to regain and sustain compliance by the end of next week
The stock is now trading at $3.90, giving the company a market value of $32 million.
Founded in 1996, Onvia raised $240 million in a public offering in March 2000. The company -- led by Mike Pickett -- reported revenue of $21 million and a net loss of $3.4 million last year.
(Editor's note: The post and headline have been corrected to better reflect the Nasdaq notice.)
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