HOUSTON -- The stock of Tidel Technologies, Inc. (Nasdaq: ATMSE) has been delisted
from the Nasdaq SmallCap Market.
The stock is now trading on the National Quotation Bureau's Pink Sheets market under the symbol ATMS.PK. It was trading at 25 cents a share at mid-morning on March 26.
The Nasdaq Listings Qualifications Panel cited several factors in its decision to delist Tidel, including the company's failure to file its 2002 annual report and report for the quarter ended Sept. 30, 2002. Tidel has not submitted a report to the Securities and Exchange Commission since June 30, when it posted a nine-month $5.1 million loss.
The Pink Sheets Quotation Service does not require issuers of quoted securities to be current in their SEC filings.
Earlier this month, the New York Supreme Court dismissed a lawsuit by Tidel's primary creditor, Montrose Investments, which had sought to recover $15 million in loans from Tidel prior to the September 2004 due date.
According to a news release, Tidel expects to bring its SEC filings current as soon as possible.
