Data Race (NASDAQ: RACE) NEWS! 2 voice/data/fax: ONE LINE! Message Board

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Technology Stocks : Data Race (NASDAQ: RACE) NEWS! 2 voice/data/fax: ONE LINE!

RACE 389.48

-0.5%

2:18 PM EST

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To: drakes353 who wrote (32404)	5/18/1999 11:16:00 AM
From: Q.	of 33268

Drakes, re. nasdaq's net tangible assets requirement, it looks like they were still barely in compliance for this 10Q, with $4.6 M vs. a $4 M minimum requirement. The NASD doesn't try to interpolate between Q's, so the co. will have no problems until the next Q. Which, as you point out, will be a k that probably won't be filed until late September. And the NASD won't look at it for a few weeks, which would be in mid October. So they have until then to do an equity deal to get their NTA up again. However, they will run out of cash before October, anyway, so they will need to do a deal before then. In other words, their more urgent problem is liquidity; keeping listed isn't the first problem that will require the financing. These financing deals will really start to pile up. They already have two series of preferred sitting there, as yet unconverted.

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