And so the story continues with Kintera as their stock asymptotically approaches zero…
On April 2, 2008, Kintera, Inc. (the “Company”) received a notice from the Nasdaq Stock Market (”Nasdaq”) indicating that the Company has failed to comply with Nasdaq Marketplace Rule 4450(a)(5), which requires a minimum $1.00 per share bid price for the Company’s common stock for continued listing on the Nasdaq Global Market, for 30 consecutive business days. Under Nasdaq Marketplace Rule 4450(e)(2), the Company has an initial period of 180 calendar days to regain compliance with this listing requirement. If at any time before September 29, 2008, the minimum bid price of the Company’s common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide the Company with written notification that it has achieved compliance with this rule.
That said, I still think their open API is superior to Convio’s but I don’t see any way they can turn their ship around fast enough without a radical overhaul of their business model.
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