Nasdaq delists Com21; OpenTV could follow
Thu, 02/20/2003 - 7:00pm
Jeff Baumgartner

Com21 Inc. has received notice that its common stock will be delisted from the Nasdaq Small Cap Market effective Friday. The company, which makes cable modems, cable modem termination systems and other broadband access gear, said it anticipates that its common shares will be eligible for quotation on the Over The Counter Bulletin Board under the same "CMTO" symbol.

Com21 first received notice on Dec. 11, 2002, that it had failed to comply with a minimum bid price requirement of $1 per share and $2.5 million minimum stockholders equity requirements. On Dec. 17, Com21 requested a hearing that stayed the delisting, but the company failed to regain the compliance required to avoid the move.

Last July, Com21 hired Investec Inc. to evaluate its "strategic and business alternatives."

OpenTV Corp. on Thursday revealed that it received a letter notifying the interactive television software and applications company that Nasdaq had determined to delist OpenTV's shares as of Feb. 28, save for an appeal by OpenTV.

OpenTV noted that it did not hold an annual meeting in 2002 prior to its acquisition by Liberty Media Corp. in August of that year, but did attempt to combine the event with a shareholder meeting to approve its merger with ACTV Inc.

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