Cumulus Media will move its stock off of the NASDAQ exchange to an over-the-counter market effective May 2.
The company was issued a 45 day delisting warning from NASDAQ in March as its stockholders’ equity of $6,951,000 in its annual report was below the requirement of $10,000,000. The company says it would move to OTC “rather than investing time, effort, and cost into developing a plan to remain on NASDAQ.”
The company will continue to trade as CMLS with the company’s stating that “it does not affect the company’s operations. Cumulus remains focused on executing its strategy and driving long-term growth.”
Cumulus stock closed today at 27 cents per share and dropped in after-hours trading with the announcement made.
Mark W. 
Edward Ford
Long term growth, eh?
For those who believe that claim, I have a bridge in Brooklyn and an oasis in the Mojave desert for sale.
May 6 is a long ways away for a stock that has dropped so much in price over the last three years. Will it be worth more than 2 dimes when it debuts on the OTC?