Così Inc. has announced that it has received notice from the Listing Qualifications Department of The Nasdaq Stock Market that the company has regained compliance with the Nasdaq Listing Standards.
Cosi received re-enlistment by curing its bid price and shareholders' equity deficiencies. As of April 21, the bid price of the company's common stock had closed above the $1.00 minimum requirement for a period of 10 consecutive trading days. Additionally, based on total shares outstanding of 51.3 million shares, the company common stock has exceeded the alternative minimum $50 million Market Value of Listed Securities requirement. The company now meets all continued listing standards for The Nasdaq Global Market. As a result, Cosi has been removed from the hearings process and the scheduled hearing before the Nasdaq Hearings Panel has been cancelled.
There are currently 99 company-owned and 44 franchise Cosi restaurants operating in 18 states, the District of Columbia and the United Arab Emirates.
