deltathree Kicked Off Nasdaq

Nearly a month after reporting a $5.2 million quarterly loss, deltathree Inc. said it’s being delisted from the Nasdaq.

deltathree stock should move to the OTC Bulletin Board on March 28 but that has not been confirmed, the company said on Tuesday.

deltathree is a wholesale VoIP provider whose stock over the past year has hit a high of $1.83 and sunk to 20 cents. Its shares closed at 24 cents on March 25.

Nasdaq staff told deltathree last week the company’s common stock isn’t meeting the minimum price requirement of $1. deltathree then applied to trade on the OTC Bulletin Board, electronic quotation system for unlisted, non-Nasdaq, over-the-counter securities. The company had yet to be told that it would be eligible for the exchange.

If deltathree doesn’t get permission to move to the OTC Bulletin Board by March 28, it will be eligible for the Pink Sheet Electronic Quotation Service on that date. Pink Sheets provides a daily listing of bid and ask prices for over-the-counter stocks that aren’t included in Nasdaq’s over-the-counter listings.

Trading over the counter usually is risky, since the stocks are neither large nor stable enough to be on a major exchange. OTC shares also tend to trade less frequently.

deltathree expects its OTC Bulletin Board trading symbol to be either DDDC or DDDC.OB. If deltathree ends up on Pink Sheets, its symbol will be DDDC or DDDC.PK.

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