Security solutions manufacturer MDI announced Friday that it has requested a voluntary delisting of the company’s stock from the Nasdaq Stock Market.
In a statement issued by the company, MDI said that the move was part of a cost savings measure to save the company money as it relates to Nasdaq listing fees. The company also said that it’s not currently meeting the $1 minimum per share trading price required by the stock market.
MDI feels that that they could be better served by looking to such alternative investment methods as the OTC Bulletin Board or the Pink Sheets, but the company pointed out that no decision has been made as of yet. The manufacture also expects the delisting of its stock to provide it with greater flexibility and the ability to deploy more resources to core business operations.