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Hypercom Corp. received a notice of noncompliance on Dec. 31 from the New York Stock Exchange because the payment-terminal maker's average closing stock price fell below $1 per share during a consecutive 30-day trading period, the company announced Friday. The notice means Hypercom has six months to raise the average share price back above $1, according to the exchange. Hypercom common stock will remain listed on the exchange as it works to raise the average share price, though listing is subject to compliance with other applicable continued-listing requirements. Should Hypercom not reach a share price of $1 and a $1 average share price for 30 days during the six-month period, the exchange will begin suspension and delisting procedures. "If the closing price and average closing price of its common stock do not sufficiently improve, Hypercom may consider presenting a proposal to its shareholders for a consolidation of its outstanding common stock at its next annual meeting of stockholders," the company reported in a press release. Hypercom's stock price on Friday closed at $1.31 per share.
