Avistar regains Nasdaq compliance

Avistar Communications got a letter from the Nasdaq stock market last week telling the company that it is back in compliance with the rule requiring companies it lists to have a minimum stock price of $1 a share.

Its share price shot back above $1 back in June shortly after the company prevailed in more than half the re-examination requests software behometh Microsoft had made to the U.S. Patent and Trademark office regarding more than a dozen of Avistar’s patents. They sank back down under in early June and then climbed back above a buck after the company released earnings for its fiscal 2008 second quarter.

The San Mateo maker of video and data collaboration software had two more patents approved earlier this month related to log-in-based voice over IP and text-based Internet messaging. The company received another letter today from Nasdaq saying it is also now in compliance with the requirement that the company have a market value of at least $35 million.

Nasdaq requires listed companies to have a minimum of $2,500,000 in stockholders’ equity or $35 million in market value. The company still had a stockholder deficit at the end of its most recent quarter, but its market value shot above the minimum level Aug. 4.

 

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