Still lots of time to stay listed.
We still have 180 days from December 11, 2002 before we get delisted to get over a buck...
Com21 Requests Hearing in Response to Nasdaq Notice of Proposed Delisting
Wednesday December 18, 4:01 pm ET
MILPITAS, Calif., Dec. 18 /PRNewswire-FirstCall/ -- Com21, Inc. (Nasdaq: CMTO - News), a leading global provider of system solutions for the broadband access market, announced today that on December 11, 2002 it received a Nasdaq Staff Determination indicating that the Company fails to comply with the minimum bid price for continued listing set forth in Marketplace Rule 4310(c)(8)(D) and that its securities are, therefore, subject to delisting from the Nasdaq SmallCap Market.
RULES FROM NASDAQ.COM:
My company's bid price has fallen below the minimum requirement. Will we be delisted?
Most companies listed on NASDAQ are required to maintain a minimum closing bid price of $1.00 per share; however, those National Market companies qualifying for continued listing based on the market value of listed securities or total assets and total revenue under Maintenance Standard 2 are required to maintain a minimum closing bid price of $3.00.
If a company trades for 30 consecutive business days below the applicable minimum closing bid price requirement, NASDAQ will send a deficiency notice to the company, advising that it has been afforded a "grace period" (90 calendar days for National Market companies and 180 calendar days for SmallCap Market companies) to regain compliance with the applicable requirements.
A SmallCap company will be afforded an additional 180-day grace period if, upon the expiration of the first 180-day grace period, the company is able to demonstrate $5,000,000 in stockholders' equity or $50,000,000 in market value of listed securities or $750,000 in net income from continuing operations for the current fiscal year or two of the previous three fiscal years.
-SoccrT |
