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Microcap & Penny Stocks : Centura Software Corporation (NASDAQ:CNTR)
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To: John T. Hardee who wrote (2360)3/17/1998 11:11:00 PM
From: jcmoore  Read Replies (1) of 2428
 
REDWOOD SHORES, Calif.--(BUSINESS WIRE)--March 17, 1998--Centura Software Corporation CNTRC (CNTR/"Centura"/formerly Gupta Corporation) announced today that a NASDAQ qualifications panel has decided to remove the temporary exception for continued listing of Centura on The NASDAQ SmallCap Market, effective with the opening of business on March 18, 1998. The qualifications panel had issued the temporary exception from the SmallCap tangible net assets requirement on January 15, 1998. The panel required that Centura comply with all SmallCap continued listing requirements by February 27, 1998, which was successfully achieved. Centura's NASDAQ SmallCap symbol will return to CNTR on March 18, 1998, as it had been prior to the listing exception. "The new management team is very pleased that we were able to complete the recapitalization within the time constraints prescribed by NASDAQ for continued listing" said John Bowman, Centura's CFO. "The additional capital gives Centura a much stronger balance sheet as we further our efforts to turn the Company around. Continued listing on The NASDAQ SmallCap Market will maintain a presence for Centura in the capital markets, as well as enable shareholders to participate in active trading of Centura stock."
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