The rule provides that for continued inclusion on the Nasdaq Stock Market, the minimum bid price per share of an issuer shall be at least $1.
On May 10, 2004, Nasdaq staff notified Cardima that the bid price of its common stock had closed at less than $1 over the previous 30 business days, and, as a result, the company did not comply with the rule. The company was provided 180 calendar days, or until Nov. 8, 2004, to regain compliance with the rule.
On Nov. 9, 2004, given that Cardima had met initial inclusion criteria, it was provided an additional 180 calendar day compliance period, or until May 5, to demonstrate compliance. But the company had not regained compliance with the rule by that date.
The company may appeal the Nasdaq decision.
Brand campaign for CareTech Solutions
CareTech Solutions (Troy, Michigan), an information technology (IT) and health information management outsourcing company for hospitals and health systems, reported the launch of its new “Applied Intelligence” brand campaign, designed to convey the company’s ability to administer a hands-on approach for developing customized IT management solutions specific to the needs of healthcare providers.
The first major brand campaign of its kind since Care-Tech Solutions began operations in 1998 features the “Applied Intelligence” tagline and an associated advertising campaign, which will be predominantly executed through print and industry event sponsorship.
“From a branding perspective, we were looking for a concept that captured the spirit of our commitment to help our customers improve performance across the entire patient data lifecycle,” said James Giordano, president and CEO of CareTech Solutions.
Separately, CareTech Solutions unveiled its CareNavigator system, an application assessment tool CareTech has developed that provides healthcare executives with a visual dashboard charting the performance of an organization’s software applications and infrastructure.