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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: Jim Bishop who wrote (84009)5/11/2001 2:06:20 AM
From: Jim Bishop  Read Replies (2) of 150070
 
Note regarding all these under $1 Nasdaq's.

While they have been "hot" lately, they are VERY risky as all at some point face possible delisting and not all of them mention that in news, although some do.

Filings usually mention the fact, and often give the end of the 90 day period during which the stock must trade at $1 or over for a least 10 days.

Just be aware of that, and go in with eyes wide open.

Here's an example from the last TENF filing:

"Our stock may be subject to de-listing.

Our Common Stock is currently traded on the Nasdaq National Market under the symbol "TENF." Due to the recent decline in the share price of our common stock and our operating losses, we could fail to meet the Nasdaq National Market's minimum listing requirements and as a result, our common stock could be de-listed. Nasdaq National Market listing requirements include a series of financial tests relating to net tangible assets, public float, number of market makers and shareholders, and maintaining a minimum bid price for the Company's share price of $1.00. The accompanying consolidated financial statements indicate that we will not meet the net tangible assets test and the public float test as of December 31, 2000. In addition, our stock price has recently been below the required $1.00 bid price. As a result, we believe we will enter into discussions with Nasdaq to determine whether our stock will be de-listed. Depending upon the outcome of these discussions, our stock could remain listed on the Nasdaq National Market, it could be listed on the Nasdaq SmallCap Market, or it could be de-listed. If our stock were de-listed from Nasdaq there would likely be a substantial reduction in the liquidity of any investment in our common stock. De-listing could also reduce the ability of holders of our common stock to purchase or sell shares as quickly and as inexpensively as they have done historically. This lack of liquidity also makes it more difficult for us to raise capital in the future. There can be no assurance that an active trading market will be sustained in the future."
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