Planet Out to be delisted from NASDAQ?

Planet Out, the pathbreaking LGBT media company, has seen the value of its shares plummet to the point that the company may be delisted by NASDAQ. They've been shedding properties and adding debt, so the immediate prospect of a spike in share price isn't great. I'd have to read the terms of their existing commitments and do a bit more diligence, but I wonder if some of the bleeding couldn't be staunched by spinning off some of the remaining less salable ventures as charities.