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Microcap & Penny Stocks : CINEMASTAR LUXURY THEATERS (LUXY)
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To: Candle stick who wrote (25)11/14/1997 11:42:00 AM
From: Candle stick   of 85
 
Could be a monkey wrench here:

CinemaStar <LUXY.O> says Nasdaq may delist shares

OCEANSIDE, Calif., Nov 12 (Reuters) - CinemaStar Luxury
Theaters Inc said it had been informed by Nasdaq of its
intention to delist the company's securities from the Nasdaq
SmallCap Market effective November 14, 1997.
CinemaStar said it was seeking procedural remedies with
Nasdaq's Listing Qualifications Hearings Department as well as
other avenues in an attempt to ensure the continued listing of
the company's securities.
CinemaStar has been informed by Nasdaq that during the time
it pursues its procedural remedies CinemaStar's securities will
continue to trade on The Nasdaq SmallCap Market.
The company said that the continued listing of its
securities on the Nasdaq SmallCap Market was a condition to the
closing of the proposed sale by CinemaStar of $15 million of
securities to CinemaStar Acquisition Partners L.L.C.
((-- New York Newsdesk 212 859 1610))
REUTERS
Rtr 01:03 11-12-97

The stock tanked to 3/8 of a dollar after this news but has recovered fully just a couple of days later....this delisting is probably not going to happen, and the following 2 news items are much more significant, IMHO...best of luck....;^)
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