San Mateo-based Avistar Communications Corp. (AVSR) on Thursday announced that it has received a notice from the Nasdaq Stock Market indicating that its eligibility for continued listing is under review.
The notice, received Nov. 6, indicates that Avistar does not comply with requirements that the company have a minimum of $2.5 million in stockholders’ equity or $35 million in market value of listed securities or $500,000 of net income for the most recent fiscal year or two of the three most recent fiscal years.
Avistar plans to submit a plan for regaining compliance by Nov. 21, the company said in a statement.
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