Reverse Stock Split and Voluntary Delisting from Nasdaq

9 Months Ended

Sep. 30, 2011

Reverse Stock Split and Voluntary Delisting from Nasdaq

Reverse Stock Split and Voluntary Delisting from Nasdaq

3. Reverse Stock Split and Voluntary Delisting from Nasdaq— Our Board of Directors and stockholders approved a 1-for-5 reverse split of our outstanding common stock that became effective at 6:01 pm ET, August 13, 2010. The new shares began trading on The Nasdaq Capital Market on August 16, 2010. As a result of the reverse stock split, every five shares of our issued and outstanding common stock, all treasury shares, and all unawarded or unvested shares under our approved stock plans were combined into one share. The reverse stock split did not change the number of authorized shares or par value of our common stock. All share and per share amounts have been adjusted to reflect the stock split for all periods presented.

To reduce reporting and other costs as well as the administrative burdens of our Nasdaq listing, we voluntarily delisted our common stock from The Nasdaq Capital Market effective June 16, 2011. Since that date our common stock has been quoted under the symbol “TGIS” on the OTC Pink tier operated by OTC Markets Group, a centralized electronic quotation service for over-the-counter securities.

THOMAS GROUP INC 10-Q