SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: RockyBalboa who wrote (35227)5/6/1999 6:19:00 PM
From: Chris land  Read Replies (1) of 122087
 
*ENBC* REASON FOR THE REVERSE SPLIT 1:7

Management of the Company believes that the Reverse Split is beneficial to the Company and its stockholders. The Reverse Split is being proposed primarily to prevent the Common Stock from being delisted from the Nasdaq National Market. On October 9, 1998, the Company received notice from the Nasdaq National Market that the shares of Common Stock have failed to maintain a closing bid price on
the Nasdaq National Market of greater than or equal to $1.00 per share for 30 consecutive trading days, subjecting the Common Stock to possible delisting. In order to stay the delisting, the shares of Common Stock must trade on the Nasdaq National Market at a closing bid price of $1.00 per share or greater for ten consecutive trading days prior to January 6, 1999. It is anticipated that following the Reverse Split, the Common Stock will trade higher than $1.00 per
share during the relevant period to satisfy the Nasdaq continuing listing requirements. However, there can be no assurance that, after the consummation of the Reverse Split, the shares of Common Stock will trade at seven times the market price of the Common Stock prior to Reverse Split. Further, the Company cannot offer any assurance that it will continue to meet Nasdaq National Market listing requirements (including the minimum bid price requirement) following the Reverse Split. If the Company's Common Stock is delisted from the Nasdaq National Market, such delisting might adversely affect the trading in and liquidity of the Common Stock.

*ENBC* Form DEF 14A for ENERGY BIOSYSTEMS CORP filed on Nov 24 1998
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News