Autobytel Inc., which links car buyers to dealers online, said Monday the Nasdaq National Market’s listing council is set to review a decision to extend the company’s deadline for filing past-due financial reports.
The reports are needed in order for the Irvine-based company to maintain its trading spot on the Nasdaq National Market.
The company said the Nasdaq listing council will review an April 7 decision of the Nasdaq listing qualifications panel to extend Autobytel’s filing deadline to May 15 and its subsequent decision to extend the deadline to May 31.
Autobytel must submit information to the listing council by June 20.
Autobytel missed a May 15 deadline to file its 2004 annual report and two quarterly reports.
However, last week a Nasdaq compliance panel gave Autobytel until May 31 to get the reports filed, or else face delisting from the exchange.
Nasdaq said the company has until May 31 to file its quarterly reports for the periods ended Sept. 30, 2004 and March 31, 2005, and its 2004 annual report.
It also wants Autobytel’s restated financial reports dating back to 2002 to be filed by then.
Autobytel also said Monday that it must not miss deadlines to file reports with the Securities and Exchange Commission for all periods up to Dec. 31, 2006.
In April, Autobytel board member Richard A. Post replaced outgoing chief executive Jeffrey Schwartz, who resigned.
The change in top executives came just as the online automobile marketing services company began in earnest an internal accounting review of its books.
Shares of Autobytel were up slightly to $4.09 at close of trading Monday.
