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

To: Tony McFadden who wrote (4467)	11/2/1998 11:55:00 PM
From: snackman	Read Replies (2) \| Respond to of 11417

Tony, Got this out of the Los Angeles times this morning. I also talked to David Collins today and he said they are just waiting for the share price to be over the $4-$5 range to get relisted. Times article: NASDAQ listing "Although the Bulletin Board is an electronic marketplace, it is essentially unregulated. Most companies that trade there have little analyst coverage". "The NASD adopted the minimum-share-price rule because "penny stocks," or those under $5, can be particularly vulnerable to manipulation by unscrupulous traders and stock promoters". Requirement for National Market: Net tangible assets of at least $4 million and market value of at least $5 million or, for companies with fewer tangible assets, $50 million market capitalization and a $5 minimum bid price. The later are subject to delisting if they fall under $5 for more than 30 days. Requirement for Nasdaq Small-Cap Market: Net assets of at least $2 million and market value of $1 million. If a company does not have tangible assets, it can have a $35-million market cap and $500,000 net income in the latest fiscal year. The small-cap doesn't say anything about a bid price. Until we get re-listed we are subject to manipulation by unscrupulous traders and stock promoters. Snackman