InsWeb Corp., the consumer online insurance rate quote service, announced today that NASDAQ has advised the company it no longer qualifies for continued listing on the NASDAQ National Market.
As a result of the notification the company said it is applying to transfer the listing of its shares to the NASDAQ Capital Market, formerly the NASDAQ Small Cap Market.
NASDAQ informed the company Friday that based upon the company's recent Form 10-K filing, InsWeb does not have the minimum $10,000,000 stockholders' equity requirement for continued listing on the NASDAQ National Market.
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