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Microcap & Penny Stocks : TASA. Can someone with KNOWLEDGE help!!!! -- Ignore unavailable to you. Want to Upgrade?

To: Bob Davis who wrote (109)	1/9/1998 10:49:00 AM
From: tom r. phillips	Respond to of 601

Bob -- i'm curious. please post here a copy of your Yahoo posting. i don't want to reinforce whatever misconceptions might have developed there, but reading your response to them can only help inform rational shareholders about the investor psychology relevant to TASA. thanks for the research you do. tom phillips

To: Bob Davis who wrote (109)	1/22/1998 9:19:00 AM
From: Ralph Bergmann	Read Replies (2) \| Respond to of 601

Bob, maybe you can help us a little bit with the interpretation of this. I got it from your link at yahoos message board. Thanks Ralph Listing requirements: " Current Nasdaq Listing Requirements* *effective August 22, 1997 The Nasdaq SmallCap Listing Requirements The Nasdaq Stock Market Marketplace Rules Nasdaq National Market Listing Requirements The current amendments to The Nasdaq Stock Market listing requirements, which were approved by The U.S. Securities and Exchange Commission on August 22nd, further strengthen both the quantitative and qualitative requirements for issuers listing on Nasdaqr. These changes materially enhance the threshold criteria necessary to qualify for listing on the Nasdaq National Market. Significant changes are highlighted below: $1 Minimum Bid Price Required for Common and Preferred Stock Common and preferred stock must have a minimum bid price of $1. The $1 bid price requirement provides a safeguard against certain market activity associated with low-priced securities, and also enhances the credibility of the market. Nasdaq is the only market that has a stated minimum bid price requirement. Increase in the Quantitative Requirements Increases to the quantitative requirements are detailed in the attached table. These increases will strengthen the financial criteria in a manner consistent with the goal of increasing the quality and stability of Nasdaq companies, while preserving the ability of qualified companies to raise capital. Adoption of Market Capitalization Alternative The adoption of a market capitalization test will help foster capital formation for Nasdaq National Market caliber companies that would otherwise not qualify due to accounting conventions associated with certain business combinations and specialized industries under the heading "Initial Listing 3." The attached table outlines the specific requirements. Adoption of Peer Review Requirement All independent auditors for Nasdaq-listed companies must be subject to practice monitoring under a program such as the AICPA SEC Practice Section peer review program. Such a program must provide that an accounting firm's quality control system be peer reviewed every three years. Nasdaq believes that the new requirements will further the protection of investors while enhancing the quality of The Nasdaq Stock Market. Companies failing to satisfy the new continued listing requirements will be allowed until February 23, 1998 to meet the new requirements. Companies should initiate appropriate corporate action necessary to achieve full compliance by February 23, 1998. "