HSA loses delisting battle
High Speed Access Corp. failed at its attempt keep its common stock trading on the NASDAQ National Market. Its stock was delisted today.
HSA was put on notice by the NASDAQ National Market in May. In the notice, NASDAQ said HSA had not owned or managed any revenue-generating business since Feb. 28, when HSA closed the sale of substantially of its assets to Charter Communications for about $81.1 million. HSA tried to appeal the decision, but to no avail. The company's stock closed Tuesday at $1.15 a share.
The company said it will not appeal the NASDAQ Listing Qualifications Panel, but will try to move its securities to the Pink Sheets or the over the counter bulletin board. There can be no assurance that it will be successful in its attempt, however, the company said in a statement.