Odimo Risks Nasdaq Delisting

Online jeweler Odimo Incorporated yesterday announced that it had received a notice from The Nasdaq Stock Market that for the last 30 consecutive trading days, its common stock has not maintained a minimum market value of publicly held shares of $5 million as required for continued inclusion by Marketplace rule 4450(a)(2) (the "Rule").

In accordance with Marketplace Rule 4450(e)(1), the Sunrise, Florida based company has been granted 90 calendar days, until July 31, to regain compliance by having its publicly held shares maintain a market value of $5 million or greater for a minimum of ten consecutive trading days.

For purposes of the rule, Nasdaq defines publicly held shares as total shares outstanding, less any shares held by officers, directors, or beneficial owners of 10 percent or more of the outstanding shares.

Odimo offers high quality diamonds, fine jewelry, brand name watches and luxury goods through three websites: diamond.com, ashford.com, and worldofwatches.com.