You can't read anything into the pending status of smallcap listing. The NASD takes its own sweet time about these things; to the best of my knowledge, the company has responded fully to all pending queries from the NASD. I do know of at least one case, Strategia, where the delays were also lengthy and that company wound up on the Amex instead, because that exchange was much more responsive. Maybe that could happen here; I just don't know.
You're worried about the directors? Read the proxy. It's all public information.
Look, I don't like the stock being down any more than anyone else. But the recent recapitalization approved at the shareholders meeting also freed up shares from a private placement done over a year ago. Believe most of them are sitting tight, but it does happen that it takes a little while for the stock to stabilize in such instances. But that has no bearing on the company's business efforts. ZMAX also now has about $7 million in capital from a warrant exercise, which ensures that they'll be able to carry out their business plan. As another factual aside, I think I remember (the proxy's not in front of me right now) that the president, Mike Higgins, has a salary of about $62,500 per year. To me that suggests that management is not feathering its own nest at the expense of shareholders -- another good sign.
When there's stuff on CNBC like the IRS spending $900 million on their y2k fix, exactly how long do you think it's going to take for investors to figure out the positive implications for all the y2k players, including Zmax? |
