@Track Requests Hearing To Avoid Nasdaq Delisting
In an effort to prevent Nasdaq from following through with plans to delist @Track Communications (ATRK) from the SmallCap Market, the company has requested a hearing with Nasdaq’s Listing Qualifications Panel.
Originally opened for business in 1993 as HighwayMaster, @Track has attempted to compete with Qualcomm's (QCOM) OmniTRACS satellite messaging and recently jumped into trailer tracking. Using cellular-based communication in combination with global positioning systems technology, @Track provides in-cab communications systems and trailer tracking units.
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The Richardson, Texas-based trucking communications firm was notified Dec. 6 of Nasdaq’s decision. The panel will hear the company’s appeal on Jan. 11.
W. Michael Smith, @Track executive vice president, said @Track was appealing the delisting because the firm believed that its troubles were more a function of difficulty in the telecommunications sector than problems of the company. He added that the company has shown substantial growth in the past several years and should not be delisted.
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