Dear Mike,
The following is a copy of our announcement about Nasdaq aqccepting the ACRT application for listing on the National Market System. We should be trading on this system beginning Monday.
NASDAQ APPROVES ACTRADE COMMON STOCK LISTING
ON ITS NASDAQ NATIONAL MARKET SYSTEM
New York, NY, November 21, 1996-ACTRADE INTERNATIONAL, LTD. (NASDAQ: ACRT), creator of the innovative TAD Program, an alternative to bank and factor financing, today announced that its application for listing on the NASDAQ National Market System has been approved and its shares are now eligible for trading on this top tier of the NASDAQ System using the trading symbol ACRT. Mitch Menik, the Company's Investor Relations Director, stated, "This allows the Company's securities to qualify for margin borrowing and should help attract analysts' and investors' interest to this relatively undiscovered gem."
Actrade International, Ltd.'s net tangible assets are now $6,757,587 as reported in the Company's recent unaudited report on form 10-QSB for the 1st Quarter period ending September 30, 1996. The Company filed its application after its June 30, 1996 annual report on form 10-KSB was filed with the SEC where the audit revealed net tangible assets of more than $4 million; one of the corporate listing requirements for inclusion on the National Market System.
ACTRADE INTERNATIONAL, LTD. is the parent Company with two operating divisions; Actrade Capital, which is engaged in the discount purchase of commercial Trade Acceptance Drafts through its proprietary Trade Acceptance Draft (TAD) Program and ACTRADE INTERNATIONAL CORP. and its foreign subsidiary, ACTRADE S.A., which constitute the international trade division.
(END) |
