igo inc (IGOI) Key Developments
iGo, Inc.(NasdaqCM:IGOI) dropped from NASDAQ Telecom Index
Nov 24 13
iGo, Inc. will be removed from NASDAQ Telecom Index.
iGO, Inc. Provides Update On Voluntary Delisting From NASDAQ
Nov 22 13
iGO, Inc. announced that, in connection with its previously announced voluntary delisting from the NASDAQ Capital Market, it expects its common stock, par value $0.10 per share, with the associated Series H Junior Participating Preferred Stock Purchase Rights, to begin trading on the OTCQB Marketplace, operated by the OTC Markets Group, commencing November 22, 2013. Although the company expects that its securities will be quoted on the OTCQB Marketplace, the company can provide no assurance that any trading market for these securities will exist on the OTCQB. The company intends to file a Form 15 with the Securities and Exchange Commission on December 2, 2013. The Form 15 will be filed to voluntarily effect deregistration of the company’s securities pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended. After deregistration of the company’s stock is effective and its periodic reporting requirements are suspended, the company intends to continue to provide interim unaudited financial information and annual audited financial information to its stockholders. Following deregistration, the company anticipates that its securities will no longer be quoted on the OTCQB but instead will be quoted on the OTC Pink Marketplace. The company cannot guarantee that trading in its securities will continue in the OTC Pink Market or in any other forum.
iGo, Inc.(NasdaqCM:IGOI) dropped from NASDAQ Composite Index
Nov 21 13
iGo, Inc. will be removed from NASDAQ Composite Index.
iGO, Inc. Announces Intent to Voluntarily Delist From NASDAQ And Deregister Its Common Stock
Nov 12 13
iGO, Inc. announced its intention to voluntarily delist its common stock, par value $0.10 per share, with the associated Series H Junior Participating Preferred Stock Purchase Rights, from the NASDAQ Capital Market ("NASDAQ"). The Company intends to file a Form 25 with the Securities and Exchange Commission ("SEC") on or about November 22, 2013 to commence the NASDAQ delisting process, on which date the Company anticipates trading in the Company's common stock, with associated purchase rights, on NASDAQ will be suspended. Accordingly, the Company expects that November 21, 2013 will be the last day that the Company's common stock will trade on NASDAQ. It is expected that the delisting of the Company's common stock, with associated purchase rights, will become effective approximately ten days thereafter. The Company has previously disclosed that on September 27, 2013, the Company received a letter from NASDAQ notifying the Company that it was not in compliance with the majority independent director requirement as set forth in Listing Rule 5605(b)(1) and the audit committee requirement as set forth in Listing Rule 5605(c)(2), and that on September 30, 2013, the Company received a letter from NASDAQ reminding the Company of the requirement to hold an annual meeting of shareholders no later than December 31, 2013. The voluntary decision to delist from NASDAQ was taken following the Board of Directors' review of numerous factors including the aforementioned NASDAQ letters, the applicable NASDAQ rules and regulations, the benefits generated by the maintenance of the listing, recent trading volume in the Company's common stock, the current composition of the Company's Board of Directors and audit committee, and the feasibility of ongoing compliance with the NASDAQ listing requirements in light of the Company's management and ownership structure. Based on the foregoing factors, the Company no longer sees sufficient value in maintaining its listing on NASDAQ. Following the delisting, the Company anticipates that its stock will be quoted on the Pink Sheets, a centralized electronic quotation service operated by the OTC Markets for over-the-counter securities, so long as market makers demonstrate an interest in trading in the Company's stock. After the effective date of delisting, the Company intends to file a Form 15 with the SEC to voluntarily effect deregistration of its securities pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended. The Company is eligible to deregister by filing a Form 15 because it currently has fewer than 300 holders of record of its securities.
iGo, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2013
Nov 7 13
iGo, Inc. reported unaudited consolidated earnings results for the third quarter ended September 30, 2013. For the quarter, the company reported revenue of $3,429,000 compared to $7,931,000 a year ago. The decline in revenue is primarily attributable to lower sales of power products. Loss from operations was $4,846,000 compared to $1,784,000 a year ago. Net loss was $4,799,000 compared to $1,830,000 a year ago. Basic and diluted net loss per share was $1.65 compared to $0.64 a year ago.