Bluefly Receives Nasdaq Notice Regarding Minimum Bid Price Requirements.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Bluefly, Inc. (NASDAQ Capital Market Originally called the NASDAQ Small Cap Market, NASDAQ announced a name change to the NASDAQ Capital Market on September 27, 2005. [1] The NASDAQ Capital Market exists for securities of smaller, less-capitalized companies (small caps) that do not qualify for : BFLY BFLY Bluefly Inc. (stock symbol) ), a leading online retailer of designer brands, fashion trends and superior value (www.bluefly.com), today announced that it received a notice on November 9, 2006 from the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. indicating that the Company is not in compliance with the continued listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. of The Nasdaq Capital Market because, for the previous 30 consecutive business days, the bid price of its Common Stock had closed below the $1.00 minimum per share requirement for continued listing as set forth in Marketplace Rule 4310(c)(4). The issuance by Nasdaq NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on of such letters is standard procedure when a listed company does not meet the minimum bid price rule. By Nasdaq rule, Bluefly will be allowed 180 calendar days, or until May 8, 2007, to regain compliance with the minimum bid price rule. The letter from Nasdaq has no effect on the listing of the Company's common stock at this time. If the company is unable to regain compliance by such date, the Nasdaq Staff will determine whether the company meets the initial listing criteria of the Nasdaq Capital Market. In the event that it meets such initial listing criteria, it will be granted an additional 180-day grace period to regain compliance. In order to regain compliance, shares of the company's Common Stock would need to close at a price of $1.00 or more for at least ten consecutive trading days. In the event that the company does not regain compliance within the requisite time period, it intends to appeal any delisting, although no assurance can be provided that any such appeal will be successful. About Bluefly, Inc. Founded in 1998, Bluefly, Inc. (NASDAQ SmallCap: BFLY) is a leading online retailer of designer brands, fashion trends and superior value. Bluefly is headquartered at 42 West 39th Street in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , in the heart of the Fashion District. For more information, please call 212-944-8000 or visit www.bluefly.com. |
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