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To: KeepItSimple who wrote (9870)	8/9/2000 10:41:44 PM
From: Giordano Bruno	Respond to of 436258

less than $4 million in net assets... August 9, 2000 Beyond.com May Be Delisted; EFax.com to Seek OTC Listing A WSJ.COM News Roundup Beyond.com Corp. said it had been advised that its shares were in danger of being delisted from the Nasdaq Stock Market. EFax.com was delisted Wednesday morning. Beyond.com, an online retailer of software and computer products, said it received a letter from the Nasdaq National Market on June 14 indicating that its shares would be delisted on Sept. 14 unless it meets certain requirements, according to a tender offer statement filed late Tuesday with the Securities and Exchange Commission. Nasdaq said that Beyond.com faces delisting because the company's common stock had traded below $5 for more than 20 consecutive business days and its net tangible assets were less than $4 million. Nasdaq said the shares would be delisted unless the stock returns to at least $5 a share for a minimum of 10 consecutive trading days prior to Sept. 12. Beyond.com said in the filing that it had commenced its exchange offer of its 10 7/8% convertible subordinated notes due Dec. 1, 2003, for its 7 1/4% convertible subordinated notes due Dec. 1, 2003, in order to increase its net tangible assets to avoid delisting. The company announced the tender offer on July 3 and is exchanging up to $63.25 million of the notes. Beyond.com also said the transaction provides it with the flexibility to pay interest on the exchange notes in either common stock or cash, solely at its option. Shares of Beyond.com were up 3.125 cents at $1.15625 in morning trading Wednesday on the Nasdaq Stock Market. EFax.com Is Delisted EFax.com was delisted from the Nasdaq National Market when the market opened Wednesday. The provider of Internet-communication services plans to seek listing on the over-the-counter bulletin board. In a prepared statement Wednesday, the company said it won't appeal the ruling. EFax received warning July 14 that it didn't comply with listing requirements, which the company wouldn't specify. EFax had asked to be allowed to remain on the market until its proposed merger with JFax.com Inc. JFax agreed in April to swap 18.5 million shares -- valued then at around $74 million -- for all 13.2 million outstanding shares of EFax. JFax Agrees to Acquire EFax for About $74 Million in Stock (April 6) Shares of EFax closed in trading Tuesday at 40.63 cents. The shares traded as high as $13.63 a share in December 1999 and as low as 37.5 cents a share on May 30. The company posted a loss of $21.5 million, or $1.71 a share, in 1999 on revenue of $24.7 million. If the company doesn't relist its shares somewhere within 20 business days of a delisting, it will be required to redeem all preferred shares for a total cost of $19.6 million.