To: Don Pueblo who wrote (3188 ) 5/28/1998 8:01:00 PM From: Janice Shell Read Replies (2) | Respond to of 7491
Good Lord! Joe's imagining that I'm calling Rhonda and Merced, Bruce thinks you're inventing press releases??? What are these guys ON??? But never mind: here's some possibly interesting collateral material. Meaningless, of course. But DO check the current stock price...To: J.J. MacNab (1008 ) From: Dan O Wednesday, Nov 12 1997 10:23PM ET Reply # of 1426 Rebecca DelMedico, Legal Counsel for IMDS, responded to a letter that I sent to IMDS, the SEC, and the NASDAQ (posted on the AOL Board several months back) by describing the reasons why they were inititally rejected for listing (due to the the "suspect" shareholder) and then described how they filed all necessary papers to satisfy the NASDAQ. She then went on to say: "Unfortunately, prior to the time NASDAQ acted on the proposal, Barrons published an inaccurate article stating that a NASDAQ spokesman indicated that the listing would be denied. Obviously, nothing was further from the truth, since the Committee had previously reversed the Panel's decision and directed that the listing be effectuated. At all times up until the date of this article the Company's stock traded at $3 and above...The article had a predictable negative impact on the Company's stock and drove the price below $3, where it has stayed virtually ever since the March 31st Barrons article was released, despite a retraction from Barrons. "Based upon this price decline we believe the NASDAQ staff has refused to approve IDSI for its listing on the NASDAQ Small Cap Market. However, recent discussions with the NASDAQ staff have indicated that they are again reviewing the application despite the fact the price remains below $3, due to the extenuating circumstances which led to that decline...The Company has engaged lawyers to deal directly with NASDAQ and rectify this problem. These efforts are ongoing and the Company is optimistic that ultimately listing will be achieved." Waiting...hoping. #reply-2711900 BAWK!!!