MindArrow Trading Halted for Query
Times staff and wire reports
The Nasdaq Stock Market on Monday halted trading in MindArrow Systems Inc. stock until the Aliso Viejo company responds to a request for “additional information.” The stock last traded at $4.50 a share.
MindArrow Chief Executive Robert I. Webber said the company was cooperating with Nasdaq. He said the problem stemmed from the actions of a “third party” not affiliated with MindArrow. He would not elaborate.
On Jan. 30, MindArrow, a provider of Web-based communication services, reported a fiscal first-quarter loss of $5.38 million on revenue of $998,726. The loss included a nonrecurring charge of $1.4 million related to the termination of three contracts.
MindArrow’s stock began trading on the Nasdaq Small Cap Market in November.
