This excerpt taken from the ITRA 8-K filed Mar 1, 2005.
Section 3 Securities and Trading Markets
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On February 23, 2004, Intraware, Inc. (the Company) received a letter from The Nasdaq Stock Market (Nasdaq) indicating that, for 30 consecutive business days, the bid price of the Companys common stock had closed below the minimum $1.00 per share requirement for continued listing under NASD Marketplace Rule 4310(c)(4) (the Rule) and that, in accordance with NASD Marketplace Rule 4310(c)(8)(D), the Company had 180 calendar days (until August 22, 2005) to regain compliance. If, at any time before August 22, 2005, the bid price of the Companys common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will notify the Company that it complies with the Rule. If the Company does not regain compliance by August 22, 2005, the Company may be granted an additional 180-day period (until February 22, 2006) to regain compliance if the Company meets The Nasdaq SmallCap Market initial listing criteria other than the minimum bid price requirement. If the Company does not regain compliance with the Rule within the allotted compliance period (including any extensions that may be granted by Nasdaq), Nasdaq staff will provide written notice to the Company that its common stock will be delisted from The Nasdaq SmallCap Market. At that time, the Company would be entitled to appeal the staffs determination to a Nasdaq Listing Qualifications Panel. The Company is currently reviewing what actions it should take to regain compliance with the Rule.