Workstream Inc. was notified by the Nasdaq Stock Market that it is no longer in compliance with exchange rules requiring the company to have a minimum $2.5 million in stockholders' equity, a $35 million market capitalization, or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years. The Nasdaq staff requested that, on or before December 3, 2008, Workstream submit its specific plan to achieve and sustain compliance with all listing requirements, including the time frame for completion of the plan.

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For the first time in many quarters Workstream (profile; site) was in the money - sort of - eking out a half-million dollar finish to its 2008 fiscal year. The talent management software company reported Thursday evening that it had an EBITDA of $516,000 for the fourth quarter that ended May 31. That compares to an EBITDA of ($4.5 million) for the previous quarter and ($1.3 million) for the fourth quarter last year. view article »

Workstream has cancelled its merger agreement with Empagio. view article »

Battered by losses running into the millions, talent software provider Workstream (profile; site) is asking vendors to renegotiate bills as it struggles to lift its stock price above $1 a share. view article »