DG Systems Will Appeal Nasdaq Delisting

DG Systems Will Appeal Nasdaq Delisting
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Digital media distribution company DG Systems, parent of StarGuide, said it received a staff determination letter from Nasdaq saying DG’s stock will be de-listed because it is under $1.00.
The supplier said “such letters are standard procedure when a company does not meet the minimum closing bid price requirement” and that it intends to appeal.
DG Systems is awaiting stockholder approval meanwhile for a proposed merger with FastChannel Network Inc. It also wants shareholders to allow a one-for-10 share reverse stock split that it thinks would result in DG Systems regaining compliance with Nasdaq minimum price rules.