Nasdaq De-Lists Global ePoint

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Global ePoint Inc. said Monday that it received notice from the Nasdaq Capital Market that the company will be de-listed from the stock exchange because the company violated the exchange’s shareholder approval rules.


Global ePoint’s securities will be de-listed effective Tuesday and will begin trading on the American Stock exchange’s Pink Sheets board under the symbol “GEPT.PK” beginning Tuesday as well, the City of Industry-based maker of commercial and industrial digital video surveillance products, said.


The Nasdaq said it removed ePoint’s stock because the company did not seek its shareholders’ approval when it issued shares of Series E preferred stock back in May. The company said it plans to appeal the Nasdaq’s decision before Oct. 2.


Global ePoint’s Chief Executive Toresa Lou said that the delisting would not result in any operational changes at the company, which employs about 145 people and has a market cap around $14.5 million.


Shares of the ePoint have traded between $5.99 and 84 cents over the past year and were down 32 cents in early trading Monday to 72 cents a share.

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