Nasdaq Puts Scient On Notice

Scient

The notice stems from Scient's inability to meet the $1-per-share minimum bid price required during the last 30 consecutive trading days. According to Nasdaq's Market Place rules, the New York-based company has 90 days--or until May 15--to regain compliance. Scient faces the possibility of being delisted from the exchange if it can't comply with the minimum bid price requirements by that deadline.

Scient closed trading on Friday at 23 cents per share, compared with a one-time high of $21.62 per share. The company's 52-week high is 49 cents per share, and its 52-week low is 21 cents. Scient shares were trading at 19 cents as of late afternoon Tuesday.

In late November, Scient merged with Atlanta-based e-services firm iXL. The move was designed to foster financial stability and create a stronger e-business solution provider with complementary business strengths and technical skills. Before the merger, both companies--once considered high-fliers in the e-services market--had reported millions in losses, laid off hundreds of employees and consolidated offices to cut costs amid a sharp decline in market demand and a slowing economy.