Nasdaq Small Cap Delists MC Informatics

MC Informatics Inc.’s stock was delisted this week from the Nasdaq Small Capitalization Market. The Irvine health-care consulting concern said Friday that a Nasdaq panel ruled that the merger of HealthDesk Corp. and MC Informatics constituted a reverse merger. As a result, MC Informatics must comply with the initial listing requirements of Nasdaq before its shares can trade on Nasdaq. The company doesn’t meet those requirements at this time. MC Informatics said it disagrees with the findings of the panel, which met on March 18. The company plans to appeal and is seeking alternatives to comply with Nasdaq’s listing requirements. MC Informatics also said that it has secured a $1.7 million line of credit from Silicon Valley Bank and that it “remains optimistic about its business prospects.” The shares, trading over-the-counter Friday, moved up 25 cents to $2.75.