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Odimo receives non-compliance notice from Nasdaq
04 May '06
2 min read
Odimo Incorporated, an online retailer that offers high quality diamonds, fine jewelry, brand name watches and luxury goods through three websites announced that it received a notice from The Nasdaq Stock Market dated May 2, 2006 indicating that for the prior 30 consecutive trading days, the Company's common stock has not maintained a minimum market value of publicly held shares of $5,000,000 as required for continued inclusion by Marketplace Rule 4450(a)(2).
For purposes of the Rule, Nasdaq defines publicly held shares as total shares outstanding, less any shares held by officers, directors, or beneficial owners of 10% or more of the outstanding shares.
In accordance with Marketplace Rule 4450(e)(1), the Company was provided 90 calendar days, until July 31, 2006, to regain compliance by having its publicly held shares maintain a market value of $5,000,000 or greater for a minimum of ten consecutive trading days.
Odimo is an online retailer of current season high quality diamonds, fine jewelry, brand name watches and luxury goods.
The Company operates three websites, http://www.diamond.com , http://www.ashford.com and http://www.worldofwatches.com , and seeks to create long-term relationships with its customers by offering a broad selection of appealing merchandise.
The Company's websites collectively showcase over 2,000 watch styles; a large assortment of luxury goods, such as designer handbags and fashion accessories, fragrances and sunglasses; more than 25,000 independently certified diamonds; and a wide range of precious and semi-precious jewelry.
The Company sells brand name goods at discounts to suggested retail prices, and diamonds and fine jewelry at competitive prices.
The Company features many of the branded items available in leading department and specialty stores, as well as diamonds certified by the Gemological Institute of America (GIA). Odimo is headquartered in Sunrise, Florida.
For purposes of the Rule, Nasdaq defines publicly held shares as total shares outstanding, less any shares held by officers, directors, or beneficial owners of 10% or more of the outstanding shares.
In accordance with Marketplace Rule 4450(e)(1), the Company was provided 90 calendar days, until July 31, 2006, to regain compliance by having its publicly held shares maintain a market value of $5,000,000 or greater for a minimum of ten consecutive trading days.
Odimo is an online retailer of current season high quality diamonds, fine jewelry, brand name watches and luxury goods.
The Company operates three websites, http://www.diamond.com , http://www.ashford.com and http://www.worldofwatches.com , and seeks to create long-term relationships with its customers by offering a broad selection of appealing merchandise.
The Company's websites collectively showcase over 2,000 watch styles; a large assortment of luxury goods, such as designer handbags and fashion accessories, fragrances and sunglasses; more than 25,000 independently certified diamonds; and a wide range of precious and semi-precious jewelry.
The Company sells brand name goods at discounts to suggested retail prices, and diamonds and fine jewelry at competitive prices.
The Company features many of the branded items available in leading department and specialty stores, as well as diamonds certified by the Gemological Institute of America (GIA). Odimo is headquartered in Sunrise, Florida.
Odimo Incorporated
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