Merge Technologies Incorporated (Milwaukee, Wis.), a provider of medical imaging and information management software and services, was notified that its common stock is subject to delisting from the NASDAQ (New York) Global Market.
According to Merge, the company is required to correct an error in the method used to recognize revenue from software and maintenance contracts dating back to 2004 and earlier.
Merge will be required to restate its audited financial statements, as well as other financial information included in the company's Annual Report on Form 10-K, and the unaudited financial statements included in its Quarterly Report on Form 10-Q, says the company.
Merge contends that no action will be taken to delist the company's common stock until the NASDAQ has completed its review notice.
