Information Analysis Inc, the Fairfax, Virginia-based IT services provider, said Wednesday its shares have been de-listed from the Nasdaq Stock Market. The company has failed on two of Nasdaq’s criteria, as it no longer meets the $4m net tangible asset requirement and could not maintain a closing bid price of $1 per share. The stock is now eligible to trade on the OTC Bulletin Board, however. Chief executive Sandor Rosenberg said in a statement that Information Analysis will continue efforts to improve its financial position and hopes that a reapplication to Nasdaq will be possible at some point in the future. In March, the company reported a net loss of $8.9m for fiscal 1999 on revenue of $15.4m. The year before, the company lost $1.6m.
