Low Share Price Could Get EMachines Delisted

EMachines Inc. said Tuesday that it has been notified by Nasdaq officials that the Irvine computer vendor’s stock faces delisting for failing to comply with the market’s minimum price requirement.

The stock, which has traded below $1 a share so far this year, closed Tuesday at 31 cents, up 3 cents a share. The shares have lost nearly 96% of their value over the past year.

EMachines said it is appealing the delisting decision to the Nasdaq Listing Qualifications Panel. The company’s shares will continue to trade on the Nasdaq market pending the outcome of the appeal.

A hearing date hasn’t yet been set.

EMachines said that it is currently in compliance with all of Nasdaq’s continued listing requirements except the minimum price.

If Nasdaq does delist the shares, EMachines said, it will attempt to have its shares traded on the over-the-counter Bulletin Board.