TRX won't try to regain compliance with the NASDAQ Capital Market's $2.5 million stockholder equity requirement, so it will voluntarily delist.
The NASDAQ Capital Market is for less-capitalized companies than those stocks which are listed on the NASDAQ National Market.
TRX had received a notice from the NASDAQ Capital Market that the company was no longer in compliance and had until the end of March to try to resolve the situation.
TRXI was trading at around $0.55 this afternoon and, among other requirements, it would be required to feature a mimimum bid price of $1.
TRX focuses on data reporting, reservations processing and online booking services and Expedia Inc. was its largest client in 2009, accounting for 42% of TRX's revenue.
However, in its recently filed 10-K, TRX states that revenue from Expedia in 2011 will be about one-third of 2009 levels -- if the two parties renew their contract.
TRX hopes to reduce its reliance on other large clients, including American Airlines, American Express and Citibank.
In the fourth quarter of 2009, TRX posted a loss of $800,000 and revenue fell 15.8% to $13.8 million.
TRX's revenue from key services -- transaction processing and data reporting -- declined.
TRX President and CEO Shane Hammond says the company has a strong revenue focus for 2010 and will invest in sales and marketing so it can expand the company's client base for its SaaS services.