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Gold/Mining/Energy : Valu-Net Corp (VNE on ASE - was Faymar)
VNE 36.950.0%Apr 1 5:00 PM EST
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To: nicholasparis who wrote (777)2/26/1999 11:40:00 PM
From: Ian@SI  Read Replies (1) of 974
 
Well, I guess that answers the NASDAQ listing question. Presuming that the whole PP is done, VNE will not have the minimum net assets required to get a NASDAQ listing.

The maximum amount realized by VNE from the PP assuming that all shares are taken and all warrants exercised is $3.06M. That only takes into account the maximum discount allowed by the ASE and doesn't consider any other commissions, fees or promotional costs that VNE may also pay out.

This doesn't quite offset the deficit reported in the financial statement.


SHAREHOLDERS' DEFICIENCY

	DEFICIT			(4,525,321)


To get a NASDAQ listing, a minimum of $3M net assets is required.
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