On October 31st I wrote the following prediction:
“There was a report today that Private is now trading at 50 cents a share. Call the undertaker.” The undertaker has arrived.

Private Media Group, Inc., a worldwide leader in premium-quality adult entertainment products, today reported that the Company has received a determination indicating that the NASDAQ Listing Qualifications Panel (the “Panel”) has denied the Company’s request for continued listing on NASDAQ and accordingly, NASDAQ suspended trading of the Company’s shares effective with the open of business, November 15, 2011 pending the formal delisting of the Company’s securities from the exchange.

As a result, the Company’s common stock commenced trading on the over-the-counter market at the opening of trading on November 15, 2011. The Company does not intend to appeal the Panel’s determination to the NASDAQ Listing and Hearing Review Council.

The Company remains committed to executing the compliance plan presented to NASDAQ to correct the issues raised by NASDAQ in the delisting notice previously reported in the Company’s Form 8-K filed with the Securities and Exchange Commission on September 22, 2011.