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Technology Stocks : WAVX Anyone? -- Ignore unavailable to you. Want to Upgrade?


To: Marty Lee who wrote (4466)11/2/1998 5:14:00 PM
From: Tony McFadden  Read Replies (1) | Respond to of 11417
 
To all [not just Marty]

To beat an already flogged horse, I have some questions about relisting.

Nowhere in the Nasdaq requirements do I see that the share price [minimum bid] must be above $4 [for small cap market, $5 for national] for 30 days? The only reference to 30 days is here:

"(B) A failure to meet the continued inclusion requirements for minimum bid price and market value of public float shall be determined to exist only if the deficiency for the applicable criterion continues for a period of 30 consecutive business days. Upon such failure, the issuer shall be notified promptly and shall have a period of 90 calendar days from such notification to achieve compliance with the applicable continued inclusion standard. Compliance can be achieved by meeting the applicable standard for a minimum of 10 consecutive business days during the 90-day compliance period."

From nasdaq.com

I have emailed Nasdaq for clarification and will post the response here when I get it.

Tony



To: Marty Lee who wrote (4466)11/2/1998 5:21:00 PM
From: Tony McFadden  Respond to of 11417
 
More for all re Nasdaq.

There is some hope here...

"d) Nasdaq may make exceptions to the application of the criteria contained in Rule 4310 or Rule 4320 where it deems it appropriate."

"4310. Qualification Requirements for Domestic and Canadian Securities "

So, under certain circumstances Nasdaq will make exceptions to the rule.