IRVINE, Calif. — Consumer Portfolio Services revealed this week that the company received a NASDAQ staff deficiency letter.

The letter's purpose was to inform CPS it has failed to comply with the minimum bid price of $1 as required by Rule 5450(a)(1).

Company executives indicated they have until Feb. 22, 2011, to regain compliance. Otherwise, they said their common stock would be subject to delisting.

"The company is considering several alternatives that could be taken to maintain a listing of its common stock," CPS officials emphasized.