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Technology Stocks : Identix (IDNX)
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To: steve who wrote (7124)3/14/1998 1:29:00 AM
From: brad greene  Read Replies (1) of 26039
 
steve,

Dan M getting his licks today.......See the NRID thread.

Live by the post, die by the post.

Speaking of NRID........ Just came across the continued listing requirements. I think NRID will reverse.....many think they will not.

The problems for NRID will be the 10 days above $1.00. They will need a few more Huli-Huli Chicken days every 90 days or so......

And the 2 million in assets? Do they have that?

Huli-Huli may get them the $35 million market cap.......

Summary of minimum requirements for continued listing, effective February 23, 1998:

Net tangible assets1 of $2 million, or market capitalization of $35 million, or $500,000 in net income for two of the last three years
Public float of 500,000 shares2
$1 million market value for the public float 300 shareholders
$1 minimum bid price3.
Two market makers
Corporate Governance Standards (see initial listing requirements)

1 Net tangible assets are total assets less total liabilities and goodwill.
2 The public float consists of shares that are not held directly or indirectly by any officer or director of the issuer and by any other person who is the beneficial owner of more than 10 percent of the total shares outstanding.
3 A company is not in compliance with this requirement when its stock drops below $1 for 30 days. The company will be notified of delisting proceedings unless the stock closes at $1 or more for 10 consecutive days, within 90 days of falling out of compliance.

bg
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