Orbit/FR (Nasdaq:ORFR) received another grace period to lift its share price lest it be delisted from the Nasdaq smallcap market.

On February 14, 2002, Nasdaq notified the company that it was not in compliance with Marketplace Rule 4310(c)(4), in that the minimum closing bid price for its common stock had been below $1.00 per share over 30 consecutive days.

Consequently, it had until August 13 to lift its share price. Now D-day has been put off to February 13, 2003.

Orbit/FR, which makes equipment to inspect wireless communications systems, went public in 1997. In April 2001 it was informed that it was failing to comply with listing requirements for the Nasdaq NM, and would be shifting to the smallcap index. It indeed shifted as of July 2001.

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