The companies acknowledged they had received a so-called Nasdaq Staff Determination in releases on Tuesday. Both companies have requested a hearing before Nasdaq, but the hearings could be a moot point in both cases.
NetZero announced plans to merge last month with Juno Online Services, which has also operated an ad-supported ISP. The new company, which would be called United Online, would have a combined subscription base of 7 million people.
Organic has been taking steps toward a potential sale. Late last month, the San Francisco-based company, which is backed by Seneca Investments LLC, created a new company, called Cinagro, to absorb the shares of the investment entity Organic Holdings in a move aimed at making the company more attractive to outside investors. -- Catharine P. Taylor
Copyright July 2001, Crain Communications Inc.