The Nasdaq Stock Market granted Medical Transcription Billing Corp. another 180 calendar days, or until June 19, 2017, to regain compliance with its minimum $1.00 bid price per share listing requirement.
The company was unable to regain compliance by Dec. 21, 2016, the previous deadline. Nasdaq said the company is eligible for a second compliance period, as it plans to remove the deficiency during the second compliance period by effecting a reverse stock split, if necessary, and meets the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing.
The closing bid price of Medical Transcription's security must be at least $1.00 per share for a minimum of 10 consecutive business days to regain compliance. The company said it will monitor the closing bid price of its common stock and may consider implementing available options to regain compliance.