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Strategies & Market Trends : KTEL-NEWS ONLY!!!

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To: Van Vo who wrote ()	12/3/1998 1:42:00 AM
From: Van Vo	of 40

Tuesday November 17, 2:54 pm Eastern Time K-tel says Nasdaq reviewing listing NEW YORK, Nov 17 (Reuters) - Online music retailer K-tel Corp. said it was notified by Nasdaq that it failed to meet the minimum tangible net asset requirement for continued listing on the Nasdaq National Market. K-tel is seeking a temporary extension of its listing status, the company said in a filing with the U.S. Securities and Exchange Commission. The shares were trading at $15.13, down $2.50 from Monday's close. K-tel's shares traded no higher than $4.13 during all of 1997 and early 1998 until the company announced on April 13 that it was launching an online service, driving their price as high as $39.44. The company has requested a hearing before Nasdaq's listing qualifications panel to obtain a temporary extension in which to raise additional capital to meet the requirements. A company official could not be reached to comment on how it might seek to raise capital. If delisted, K-tel said it may apply for listing on the Nasdaq Smallcap Market. biz.yahoo.com

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