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Technology Stocks : Noise Cancellation Technology (NCTI) -- Ignore unavailable to you. Want to Upgrade?

To: sublettd who wrote (2100)	5/2/1998 11:09:00 AM
From: tonyt	Respond to of 2775

>Believe that if you'll check the NASDAQ delisting requirements it has to get up >above a dollar for ten consecutive days. AFTER notification. Notification does not happen until the bid is below $1 for 30 days. Here's a recent news article that speaks to the 'new' rules: New Nasdaq Rules Imperil Firms' Listings Orange County Business Journal ========================================================== ÿÿ Tighter restrictions by Nasdaq could push some of OC's lowest-valued public companies off the exchange. ÿÿ Among the changes that went into effect in February is the solidification of a $1 minimum bid price for shares traded on the exchange. The $1 minimum had always been a qualification, but until this year there were ways that companies could fall below that level and stay on the list. ÿÿ Now if a Nasdaq stock falls below $1 for 30 consecutive days, the company has 90 days to bring the share price above $1, or face delisting. If at any point the stock climbs above $1 the company has another 90 days. ÿÿ One local company whose listing may be in trouble is Fountain Valley-based United Leisure Corp., which has traded below the $1 level since August 1996. ÿÿ Under the new rules, the company has until May 25 to raise its share price above the threshold. United Leisure CEO Harry Shuster did not return phone calls seeking comment. As a policy, Nasdaq does not comment on the ongoing surveillance of its companies. ÿÿ At least seven other OC-based companies that trade on the Nasdaq exchange were trading between $1 and $2 last week, including Alpha Microsystems, Cortex Pharmaceuticals Inc., Hycor Biomedical Inc., Metalclad Corp., MotorVac Technologies Inc., Scoop Inc. and Tivoli Industries Inc. ÿÿ In addition to the stricter share-price minimum, stocks are subject to higher requirements in areas such as number of shares outstanding and value of tangible assets. ÿÿ Irvine-based Pinnacle Micro Inc. was delisted from Nasdaq in February, just before the new regulations took effect. However, its stock price and asset level had fallen below the old minimums as well as the new. ÿÿ Like many companies that fail to meet Nasdaq's requirements - including many of OC's smallest public companies - Pinnacle now trades in a system known as the Over the Counter Bulletin Board. ÿÿ OTCBB stocks are quoted on the Nasdaq computer system but the companies are not subject to oversight by Nasdaq, which is a subsidiary of the National Association of Securities Dealers. Only the Securities and Exchange Commission has the power to halt trading in those shares, as it did recently with Shopping.com (which has since resumed trading). ÿÿ Nasdaq has also stiffened the requirements for initial listing on its SmallCap and National Market Systems (the requirements are somewhat lower for SmallCap listing).