Hey Ben, your looking like a turd today. SCII down another 50%. How dare you desecrate theTruthseekers Fine Forensic Research which called SCII to a T. They are building a special circle in Hades for your kind.
SCII: “You’ll Have to Talk to my Wife about that”
Message 14416568
Sensar Says Nasdaq May Not List Stock After Merger
Salt Lake City, Nov. 22 (Bloomberg) -- Sensar Corp., a former maker of measuring instrumentation equipment, said the Nasdaq Stock Market may not list its shares after a merger with Israel's Net2Wireless Inc. because of concerns about people involved.
Shares of Salt Lake City-based Sensar fell 72 cents, or 15 percent, to $3.97 in Nasdaq Stock Market trading. They have lost 95 percent of their value since touching a 52-week closing high of $79.69 in March.
Nasdaq officials informally advised that it may not approve Sensar's continued listing because of concerns about ``individuals associated with certain shareholders who had been subject to previous securities-related proceedings,'' Sensar said in a statement.
Sensar Chairman and Chief Executive Howard Landa said the problem concerns shareholders of closely held Net2Wireless and doesn't involve Net2Wireless founder and principal shareholder Nechemia Davidson or the company's operating personnel. Nasdaq spokesman Mark Gundersen declined to provide details.
Sensar plans to merge with Rosh Ha'ayin, Israel-based Net2Wireless following a transaction in which Net2Wireless shareholders will receive about 18.3 million newly issued Sensar shares, a majority stake. Net2Wireless's directors and management will become Sensar's directors and management, according to a filing with the U.S. Securities and Exchange Commission.
Formerly known as Larson-Davis Inc., Sensar's assets now consist primarily of cash, cash-equivalent and short-term notes receivable. It hasn't had sales since 1997. Net2Wireless, a developer of products for wireless Internet connections, also generates no revenue.
Landa said Sensar is working to address Nasdaq's concerns and complete the transaction. When completed, the combined company's name will be Jagami Corp.
Nov/22/2000 16:13 ET
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