Youbet.com Inc., the online live event and horse racing wagering company, announced Friday that it received notification from The Nasdaq Stock Market that it is not in compliance with the National Market's listing maintenance standard regarding minimum bid prices. This standard requires that the company's common stock maintain a minimum bid price of at least $1.00 per share. In order to comply with this standard, the company's common stock must have a minimum bid price of at least $1.00 for 10 consecutive trading days prior to May 21, 2001.
If the company is unable to demonstrate compliance with this standard on or before May 21, 2001 the Nasdaq Stock Market will seek to delist the company's common stock from The Nasdaq Stock Market National Market. At that time the company may appeal the delisting to the listing qualifications panel of The Nasdaq Stock Market.