LifeWallet intends to use a reverse stock split to boost its languishing share price and avoid a delisting determination from Nasdaq, according to a Friday afternoon U.S. Securities and Exchange Commission filing.

The Miami-based health care data company and Medicare recovery firm founded by lawyer John Ruiz received a delisting determination notice from Nasdaq on Sept. 5 after the stock traded below 10 cents for 10 consecutive business days, a violation of the Nasdaq Capital Market’s rules against penny stocks.

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