I don't think anyone wants a delisting. And they said in the conference call that there's "a couple things we're working on," or something like that, in response to the delisting question.
If you want worry about delisting, be my guest. It's a huge distraction, as far as I'm concerned...and in that sense, an opportunity for those who believe in the value of the assets here.
For sheer prestige sake, I highly doubt that this company would let itself be subject to an "involuntary" delisting. Besides which, it makes any potential going private transaction all the messier, as people could accuse Jeff of letting it go dark, to drive it down, so he could get it on the cheap. (Notice how, in the earnings conference call, they went out of their way to say they BELIEVE the stock is undervalued. They don't want anyone to make any mistake about that, is my guess.)
Let me say it again: In my view, they are absolutely not going to let this thing be delisted! (But yes, I could be wrong.)