“Adding a research component to our social media coverage is a natural extension for us,” Alan M. Meckler, chairman-CEO of WebMediaBrands, said in a statement.
On Aug. 6, WebMediaBrands received notice from the NASDAQ stock market indicating that the company no longer complies with NASDAQ requirements as its share price had dipped below $1.00. (On Wednesday, shares of WebMediaBrands were trading at 66 cents apiece.) As a result, WebMediaBrands may be subject to delisting.
Earlier this month, WebMediaBrands reported that its second quarter revenue was $2.5 million, a 72% increase over the year-earlier period. Loss from continuing operations was $945,000 for the second quarter compared with a loss of $2.1 million.