NetSol Technologies Regains NASDAQ Compliance

Business services provider NetSol Technologies Inc. has regained compliance with the NASDAQ Listing requirements. A letter dated March 22 notified the Calabasas-based company that its common stock had failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of the NASDAQ Stock Market. However, on Sept. 23, the company’s closing price was $1.39 per share, the tenth consecutive day it had exceeded the $1.00 per share threshold, and accordingly regained compliance with all applicable listing rules. NetSol Chairman and CEO Najeeb Ghauri said as head of the company he was always very conscious of shareholder value and was pleased to be back in full compliance. “Even after the recent appreciation, our current stock price does not reflect the real worth of the company, but we trust that the market is beginning to realize our true value and potential and will reward our shareholders accordingly,” Ghauri said.