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Technology Stocks : ARC (ALRC)-A revamped and transformed web-centric IT company
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To: FrozenZ who wrote (23)6/10/2000 8:19:00 AM
From: Tom Hua  Read Replies (1) of 87
 
FrozenZ, I've looked into that issue before I bought in, and also discussed with the CEO and CFO. The only listing requirement that theoretically may be of concern is the $1 stock price. But it's really not a problem. In practice Nasdaq does not delist a stock only on the breach of the $1 level alone (there're many sub $1 Nasdaq stocks), they look at other 5 listing requirements which ALRC do meet.

In addition, the $1 floor is being protected by many means. The company vows to protect it by buying shares. Last month, when ALRC briefly touched $1, the company stepped in to buy back 80,000 shares, and company management bought 95,000 shares. I personally know a couple of investors who are ready to throw in another $200,000 to protect the stock price. I think Larry Kane, the 10% shareholder, will also step up to the plate.

So, I do not think delisting is an issue.

Regards,

Tom
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