Conversation with NCT today....
All of you about to pull the trigger to sell (I see from the ticker that many of you have done/are doing so already).....
I just had a very good and positive conversation with Joanna Lipper of NCT. The primary purpose of my calling was to try to find out whether or not NCT is going to try to petition NASDAQ for either an extension or an exception on the $1.00 rule.
(Following is paraphrased....)
Joanna: We at NCT are very, very concerned about the delisting issue. It has an extremely high priority for us here. We definitely **do not** want our stock delisted. We are doing everything we can to *prevent* that from happening, leaving *nothing* untried. Besides our top management working on it, including Michael Parrella, we have our attorneys working on it. We are attempting both extensions and exceptions with NASDAQ. We all feel that we have a whole lot at stake on the delisting issue, Michael Parrella in particular (as he owns or has options on millions of NCTI shares).
Nicholas: When is D-day?
Joanna: D-day is technically Tuesday, September 8, 1998. BUT, we are making every effort for an extension/exception, and if we are successful in these efforts the present deadline will be irrelevant.
Nicholas: Why the silence??? We investors have been/are worried sick!!
Joanna: I promise you, a whole lot of good news is in store. A lot is happening. Things are really looking up. And we here are excited. As for our silence, we definitely will not remain silent much longer -- we will be issuing at least one press release next week. I can't tell you any more than that about it, however, as that would be inside information.
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I also heard back from Krys Marushak of NCTI. She said she is very busy now redesigning their web sites, in particular the ArtGekko site (I know many of you will be happy to hear), and preparing for another trade show happening next week.
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Some comments on NCTI market activity: Given the apparent tremendous uncertainty about the delisting issue, and a whole lot of selling pressure, I find it hugely remarkable that NCTI has held its bid at 1/2!!! And volume today, Friday, before a long Labor Day weekend, has been just 400,000!!! It seems unfathomable. Remember, we have about 1,600 shareholders of NCTI, and a float ten times the mean for small companies. And these holders are not hugely running for the doors!!! That seems to indicate to me that we hold something of value in our NCTI shares.
Conclusion: I think we all can enjoy our Labor Day weekend, and sleep more easily now. I sure will!
Best of luck to all,
Nicholas
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