Dale, to the best of my knowledge, this is the first and only public revelation of the outcome of the NMS listing:
"Our application for NASDAQ NMS listing was turned down for now. There are 7 tests for listing, and we meet 6 of them. We expect to meet the 7th test (re: $6M net tangible assets) by yearend 1997. We did qualify under old NMS standards, but these were changed in late August, about a week before our application. Timing is everything."
John T. Orton (CFO) Oct 3, 1997
So, according to JTO, the new listing requirements took effect, in late August, one week BEFORE AB&G's application. Should we infer that he was unaware of the impending NASDAQ change, and did not become aware of it until after his application was rejected? You may recall that by this time we had been waiting many weeks for an NMS Listing status report.. perhaps someone else can recall exactly when AB&G first floated the NMS Listing carrot -- wish Rodney was here.
For the record: the new listing requirements were proposed on March 3, 1997 and took effect on August 25, 1997. I knew about it. it was public information. If a public company's Chief Financial Officer wasn't aware of these events, then... well, I'll leave it at that! |
