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ClearPoint Business Resources Inc. (NASD: CPBR) said Thursday that it received a second notice from Nasdaq saying its stock was out of compliance with listing requirements because it closed below the minimum bid of $1 a share for 30 consecutive days. However, the company said it could have up to 360 days to get the stock back in compliance and avoid delisting.
In May, the company said it had received another notice from Nasdaq. That notice said it was out of compliance with a rule requiring firms to maintain $2.5 million in shareholder equity, $35.0 million in market value of listed securities or $500,000 in net income for the last fiscal year or for two of the three most recent fiscal years.
Separately, ClearPoint said it appointed John Phillips as its CFO, according to a filing with the U.S. Securities and Exchange Commission.