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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis
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To: Q. who wrote (1426)7/18/1998 7:28:00 AM
From: Q.  Read Replies (1) of 2506
 
re. PAMC, Here's my analysis of their listing situation:

Most likely, they will soon appear on the Nasdaq Small Cap Market, unless they get lenient treatment to appear somewhere better. I see no prospect they will stay on the BB.

Technically, they are required to meet new listing requirements to get listed again.

They do meet the requirements to get listed on the Small Cap Market
nasdaq.com
but not the national market or NYSE. I don't know what AMEX requires for listings.

Small Cap initial listings require $4 M net tangible assets and various other things they appear to satisfy.

PAMC had about $6 M NTA at the end of March (NTA = shareholders equity minus goodwill).

Re. the national market, they do not meet either option 1 or option 2, and they fall short right now of option 3 as well, although if the stock gets hyped up then the market cap will meet option 3 and they can get relisted. Here are the naz requirements. nasdaq.com

re. NYSE, last time I checked about a year ago, the big board required something north of $10 M of NTA for a listing. Don't remember the exact number, but it was above $10 M for sure.

Of course, the naz does sometimes permit companies to get initial listings without meeting any of the requirements. At least that was true in the old days, before they loosened up the initial requirements this year. Otherwise ELNK for example would never have gotten a listingl.
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