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8 Penny Stocks Get Delisting Warning

Stocks in this article: ABCWOXGN

USA Technologies (USAT)

Closing Price: 49 cents (June 29)

Six-Month Stock Performance: -69%

Received Nasdaq Notice: June 14

Management's Expected Action: The point-of-sale technology services provider has until Dec. 13 to satisfy the Nasdaq's minimum bid price requirement. USA Technologies did not say how it will attempt to satisfy the rule, although it noted that it could apply to transfer the listing of its securities to the Nasdaq Capital Market or could appeal the exchange's listing determination. Shares of USA Technologies traded above $3 exactly one year ago and traded near $2 until May, when the company announced a $3 million public offering. USA Technologies offered common stock and warrants at an offering price of 90 cents each. In addition to the public offering, the company announced a subscription rights offering that allowed stockholder to purchase up to an aggregate of $7.52 million of new shares of common stock and related warrants.

-- Written by Robert Holmes in Boston.

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