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Non-Tech : Bill Wexler's Dog Pound
REFR 1.620+3.2%Dec 5 9:30 AM EST

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To: Kristina Boydd who wrote (303)3/15/1999 1:42:00 PM
From: Dale Baker   of 10293
 
The formal exchanges (NASDAQ, NYSE, AMEX) have minimum criteria for a stock to stay listed on their exchange. You can find them at the various exchange Web sites - tangible book value, share price, etc.

When a company can't meet the minimum criteria any longer because their business has gone bad and the share price tumbled, the exchange usually has a meeting with them and gives them a short period to raise their value back to the required level. if they can't, they are "de-listed". That means their shares trade only on the Bulletin Board or "pink sheets".
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