MDI delists
By Brief
Updated Wed April 1, 2009
SAN ANTONIO--MDI has notified the Nasdaq Stock Market that it will voluntarily delist its stock from the exchange, the company said in February. The company will seek to have its common stock traded on either the OTC Bulletin Board or the Pink Sheets. However, no firm arrangements have been made.
MDI, the parent company of MDI Security Systems, is deciding to delist its common stock as a cost-saving move that will eliminate expenses associated with Nasdaq listing fees. This should provide the company with greater financial flexibility to deploy more resources to its core business operations, according to a release.
MDI's common stock was trading at $.09 per share on the day of the announcement.
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