The common stock of mobile communications provider @Track Communications Inc. will continue to trade on The Nasdaq SmallCap Market.
Continued listing is based on an exception to some Nasdaq requirements.
@Track, of Richardson, Texas, once known as HighwayMaster, continues to offer the HighwayMaster Series 5000 mobile communications and the TrackWare trailer tracking systems.
@Track was warned of possible Nasdaq delisting on Dec. 6, 2000. The compay requested and was granted a hearing before the Nasdaq Listing Qualifications Panel on Jan. 11. One day before that hearing, @Track announced a letter of understanding with Minorplanet Systems PLC, a British mobile communications company, which made a $10 million investment in @Track for 10 million shares of stock.
The Nasdaq panel granted @Track a temporary exception from the listing standards that expired on April 23. The most recent exception expires July 2.
Last month, @Track introduced 20/20V, a low-cost, cab-mounted unit that transmits location reports and more over the Cellemetry Data Service network without input from the driver. 20/20V is aimed at those large sectors of the mrket that have so far avoided investment in mobile communications of any kind.
@Track stock was trading at less than 50 cents a share last week.