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Technology Stocks : TouchStone S/W (TSSW) -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Miner who wrote (2730)	7/20/1999 8:54:00 PM
From: Ish	Respond to of 3627

Thanks for the info.

To: Jeff Miner who wrote (2730)	7/21/1999 12:04:00 AM
From: robbie_nw	Read Replies (1) \| Respond to of 3627

I also called the company...twice. Spoke with Pierre Narath and Rich West. TSSW did know of the possibility of delisting and fully disclosed this in the most recent 10Q. (although from my previous conversations with Pierre......they where confident that they would maintain their listing) here is the excerpt: "On January 21, 1999, the Nasdaq Stock Market, Inc. ("Nasdaq") notified the Company that the Nasdaq Staff had conducted a review of the price data for the Company's shares during the preceding thirty trading days and had determined that such data showed a failure to maintain a $1.00 minimum closing price as required by the Marketplace Rule 4450(a)(5) under Maintenance Standard 1 ("Rule 4450 (a)(5)"). The notice further stated that the Company would be provided ninety calendar days in which to regain compliance with Rule 4450 (a)(5), during which if the closing bid price of the Company's shares was equal to or greater than $1.00 for a minimum of ten consecutive trading days, then the Nasdaq Staff would verify compliance with the continued listing requirements. Commencing on March 22, 1999, and on every trading day thereafter through May 12, 1999, the closing bid price of the Company's shares had been at or above $1.00. The Company reported to the Nasdaq staff that the requirement specified in the notice has been met and requested a hearing with the Nasdaq staff regarding the bid price issue." However since TSSW has maintained above $1.00 and meets the "minimum net tangible assets" requirement.....TSSW was surprised to learn yesterday after the close that Nasdaq had decided to delist TSSW. Pierre's only explanation was that they where looking at the last 3 yrs of dismal performance....and made their decision because TSSW was only marginally above the minimums. He was adamant however that this does not change their business plan....it has no effect on their plan going forward....they are still firing on all cylinders. Expect good earnings end of July and additional good news shortly thereafter.