Mike,
I have been following the NASDAQ question since early December, 1997. Len Prange told me on Dec. 31, 1997 that a formal meeting had been set up with NASDAQ for early in the year and that they fully expected to satisfy NASDAQ and retain their National Listing! I understand that Peter Gombrich and Len Prange put forth a positive picture for AccuMed during this formal meeting on January 29, 1998. In my discussions with AccuMed, including last week, I have heard nothing that seems to suggest that AccuMed's position has changed from what Len told me in December. We must now just sit back and wait!
AccuMed will probably hear from NASDAQ this week. I am expecting them to retain their National NASDAQ listing. However, should I be wrong, I would expect them to drop only to the NASDAQ Small Cap listings. I don't see how they could drop to the level of a Bulletin Board listing. Remember, they were only about $500,000 short of meeting the requirement for maintaining a National NASDAQ listing on September 30, 1997. I would have been more concerned if Peter Gombrich resignation was related to the NASDAQ question, but we have been formally told that it wasn't.
Also, we are expecting earnings to be released within the next 2 weeks. I believe that the price is currently heavily discounted because of the Peter Gombrich's resignation, the NASDAQ question, and the expected so-so earnings report. If things go as I am hoping to see over the next two weeks, we may seen significant increase in the price after these concerns are past.
Cisco |
