@Track Communications, Inc. of Richardson, Texas, has requested a hearing before the Nasdaq Listing Qualifications Panel to avert delisting from the Nasdaq SmallCap Market.
@Track was notified of delisting on Dec. 6. The company’s appeal will be heard on Jan. 11.
@Track was known as HighwayMaster when it opened for business in 1993. The startup took direct aim at the truckload mobile communications market dominated then as now by Qualcomm’s OmniTRACS satellite messaging system. HighwayMaster provided less expensive cellular-based communication, offering both data and voice communication, but lacking Qualcomm’s universal coverage. Profitability largely eluded the company even after it changed its name to @Track Communications earlier this year.
In a press release, @Track admitted its appeal for continued listing might not be granted. If that happens, @Track said, "the company anticipates that its securities will be traded on the NASD OTC Bulletin Board."
On Wednesday morning, @Track stock was selling for under $1. Its 52-week high had been more than $12.