ARTISTdirect has received notification from the Nasdaq that its common stock will be delisted from the Nasdaq Stock Market effective May 9, 2003.
In a statement, ARTISTdirect stated, "The Company has determined that it will not be able to achieve and sustain compliance with these Nasdaq listing standards in a timely manner and, therefore, will not appeal the delisting determination."
Nasdaq also noted that the Company had not paid its 2003 Nasdaq National Market listing fee.
Beginning on May 9, ARTISTdirect common stock will be eligible for trading on the Over-the-Counter Bulletin Board (OTCBB). The Company's ticker symbol will continue to be ARTD.