Nasdaq Action Threatens Survival ForInteliData
RESTON, Va. - (06/16/05) -- Shares in InteliData TechnologiesCorp.'s plunged to just 37 cents Wednesday after the companyrevealed it had received a delisting notice from the Nasdaq forfailure to maintain a minimum bid price of $1. The Internet serviceprovider vowed to appeal the Nasdaq move, as it threatens thecompany's planned $19 million acquisition by Corillian Corp.InteliData reported an 18% decline in first quarter revenues tojust $2.9 million, and a widening of losses for the period to $1.9million, or four cents a share, from $1.5 million, or three cents ashare, for the first quarter last year. Company officials did notreturn phone calls from The Credit Union Journal.