In the face of NASDAQ delisting, Digital Angel trims $2m in fat



Via Business Wire

Digital Angel announced today changes to its corporate structure as part of the Company’s strategic turnaround plan. These changes address Digital Angel’s growing focus on Destron Fearing, the Company’s animal identification business, and include the elimination of its “corporate structure”, and the associated costs of a separate headquarters and several management positions. The new streamlined structure will result in cost savings of approximately $2 million per year.”

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In a letter to shareholders on June 7th, Digital Angel CEO Joseph Grillo initially hinted at the company’s NASDAQ issues (which would come to light two days later).