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Technology Stocks : CNKT - Connect Inc.
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To: dragonpawn who wrote (803)1/19/1999 2:34:00 PM
From: cwalker  Read Replies (1) of 953
 
what about this...patched from the Nov.16th 10-Q?

" On October 15, 1998, the Company was informed by the Nasdaq Stock Market("Nasdaq") of a concern regarding the continued listing of the Company's Common Stock on the Nasdaq National Market, specifically, the Common Stock failed to maintain a minimum bid price of at least $1.00 per share. The Company was given 90 days (until January 13, 1999) to regain compliance. In order to regain compliance, the bid price must be greater than or equal to $1.00 per share for
10 consecutive trading days. There can be no assurance that the Company will be able to regain compliance with such requirement.

In addition, the listing requirements of Nasdaq require the Company to maintain net tangible assets of at least $4 million (the "NTA Requirement"). The Company's net tangible assets were approximately $1.1 million as of September 30, 1998. It is unlikely that the Company will be able to regain compliance with the NTA Requirement in 90 days, which will likely cause the Company's stock to be delisted from The Nasdaq National Market. The removal of the Common Stock from listing on The Nasdaq National Market most likely would have a material adverse effect on the market price of the Common Stock and on
the ability of stockholders and investors to buy and sell shares of the Common Stock in the public markets."

Its seems to me that they are not in compliance with the net asset requirement, at least as of their latest announcements.
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