Just read the following at EDGAR for DISH's qtr ending 31 March 1997:
... As previously described, EchoStar expects that its net losses will continue
as it builds its subscription television business such that negative
stockholders' equity will result during the second quarter of 1997 unless it
receives additional equity financing. Although a negative equity position has
significant implications, including, but not limited to, non-compliance with
Nasdaq National Market listing criteria, EchoStar believes that such event will
not materially affect the implementation and execution of its business strategy.
When EchoStar ceases to satisfy Nasdaq's National Market listing criteria,
EchoStar's Class A Common Stock will be subject to being delisted unless an
exception is granted by the National Association of Securities Dealers. If an
exception is not granted, trading in EchoStar Class A Common Stock would
thereafter be conducted in the over-the-counter market. Consequently, it may be more difficult to dispose of, or to obtain accurate quotations for, EchoStar
Class A Common Stock. Accordingly, delisting may result in a decline in the
trading market for EchoStar's Class A Common Stock, which, among other things, could potentially depress EchoStar's stock and bond prices and impair EchoStar's ability to obtain additional financing.
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