IELSF-Flight to Fortune Or? Message Board

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Microcap & Penny Stocks : IELSF-Flight to Fortune Or?

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To: SAF who wrote (479)	11/3/1998 11:28:00 PM
From: Intrepid1	of 520

All, somebody sent me this information regarding the NASDAQ de-listing procedure. ......a letter is sent after the closing bid price has been under $1 for 30 consecutive trading days. This gives the Company 90 calendar days to get back above $1. This is defined as 10 consecutive trading days where the closing bid price is above a buck. At the end of the 90 days, if the price has remained below, the company gets a letter telling them they are delisted. However, the company can appeal and an appeal date is then set. This will generally stay delisting for another 6-8 weeks. Thus in total the price can be below $1 for some 25 weeks or so before delisting. It is my hunch that IELSF is already in possession of the NASDAQ letter, most likely got it in late September. So if the price doesn't improve to over $1.00 for at least 10 consecutive trading days in the next 2 months the company will be delisted. Then the company can appeal and have another 45 or more days to get their act together. So there is still time.....tick, tick, tick, tick! purething

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