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

To: Ralph Bergmann who wrote (117)	1/22/1998 10:53:00 AM
From: Early Out	Read Replies (1) \| Respond to of 601

I wonder about this too. Lots of companies around TASA's price range have had to declare reverse splits to get into compliance. Will TASA have to do this too? Here is something from The Napeague Letter: TASA is currently listed on the NASDAQ SmallCap Market. In late August NASDAQ announced new listing requirements for continued listing. TASA currently appears to be in compliance with each of these listing requirements, with the exception of the requirement that the stock have a minimum bid price of $1.00. Companies which are unable to meet the new continued listing requirements will be allowed six months to meet the new requirements. I personally feel confident that there is little risk that the Company will fail to be in compliance. That 6 months he refers to comes due on Feb. 23. At this point it seems believeable that the price of TASA will not exceed $1.00 at that time. IMHO this will be a major screwup by management if they have not put in place anything to prevent them from being delisted. On another note, this was in the Dec. press release on earnings: The Company expects to file its 1997 10-KSB as well as an amended 10-QSB for the third quarter of 1997 no later than the third week of January 1998. The amended 10-QSB addresses a reallocation of the cost of sales between the third quarter and the fourth quarter. This reallocation is not substantial but by doing so quarterly results will more clearly reflect quarterly operations of MLP as the acquisition process is completed. Now, you can debate whether we are currently in the 3rd or 4th week of January, but in any case I expect news today or tomorrow. I am guessing that in conjunction with the 10-KSB and ammended 10-QSB they will release something regarding the new NASDAQ requirements and what they are going to do about it. Although it seems to be a bit late in the game unless a reverse split has been authorized by shareholders a long time ago. Enough of my speculation. Bob, what say you? -jsc

To: Ralph Bergmann who wrote (117)	1/22/1998 11:02:00 AM
From: Early Out	Respond to of 601

I just called TASA to discuss this point. The person I spoke to (who initially answered the phone, so take this for what it's worth) acknowledged the fact they are aware of the new listing requirements, and are aware they are not currently in compliance. She said, "We are doing everything we can to get the share price over $1.00 by February 23rd." Now, I don't really know what that means, but I can tell you I believe we are in danger of being delisted because the company does not appear to be doing anything about the new requirement! I was given the name of their Investor Relation Consultant who will be able to provide us with more detail on this issue. I'll post what I learn from him. -jsc