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Technology Stocks : Thermo Tech Technologies (TTRIF)
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To: john b who wrote (4701)8/31/1998 11:04:00 AM
From: DDS-OMS  Read Replies (2) of 6467
 
John,

A few weeks ago I called IR to try to find out if they had received notification/warning from NASDAQ regarding listing requirements. IR said he had not been told by mgmt of any notification--he didn't deny it, just said he didn't know. I am assuming TTRIF did receive NASDAQ warning that TTRIF had been below $1 since June 11th. If so, they would have until Oct 9th to get TTRIF back above $1 for 10 consecutive days. That means that by Sep 25th, TTRIF would have to be above $1 and stay there for the next 10 days.

I would wager that Rene would do all within his power to avoid delisting--so at the LATEST, he would do a reverse split by Sep 25th if TTRIF's price isn't firmly above $1 by then. To be on the safe side, allow a week or more prior to Sep 25th if you're concerned about a reverse split. With 90-100 MM shares, a 1-3 or 1-4 reverse split wouldn't affect liquidity.

If the elusive financing comes through within 2-3 weeks, hopefully delisting won't be an issue.

Regards,
Gary
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