Chicago-based Universal Access Global Holdings Inc. said today that it will appeal a June 28 Staff Determination from Nasdaq that proceedings be undertaken to delist the firm from the exchange's SmallCap Market.
According to Nasdaq, Universal Access, a network integrator and software provider serving carriers and service providers, no longer satisfies the stockholder's equity, earnings or market value of publicly held shares requirements for continued listing set forth in marketplace Rule 4310(c)(2)(B).
Universal Access will not be delisted at least until Nasdaq issues its decision on whether or not to grant an appeal. Universal Access executives have said they expect that a hearing will be scheduled within 45 days.
In addition to network integration services, Universal Access provides network connectivity services, software and information products"including Lattis tariff pricing software"for U.S. and international telecom carriers, cable companies, system integrators, government and enterprise customers. The company also maintains a
network infrastructure database, the Universal Information Exchange"which holds data on the availability, location, and prices for thousands of data and voice circuit connections.
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