To: GARY P GROBBEL who wrote (1 ) 1/13/1999 6:32:00 PM From: Hamid MArandi Read Replies (1) | Respond to of 2220
Do you follow the CEO discussion in yahoo message board? ore Q and A by: IMON_2nd 2807 of 2807 Dear MakenMoney09; I apologize if my previous postings or comments in the teleconference came across as "beating around the bush". That is certainly something I never do intentionally. Responding... Q. Does IMON's share price need to be $1 or $4 to stay listed? A. We have asked Nasdaq that and did not get a firm answer either way. They said they will send us a letter and I hope the letter will spell it out. Q. Is IMON in a position now to meet all other Masdaq listing qualifiers? If IMON is considered continued or new? A. Either way, I believe we will qualify at the point in time when we are required to. Now? There is no such thing as a directive to qualify "now"; within a few hours or days, unless the Company is being listed consequent to an IPO, in which case the company must qualify at the instant in time when its stock opens. IMON is not an IPO, so that can't happen. Q. Will IMON's next 10-Q contain an "unable to continue" clause? A. No, not to my knowledge. Q. When do you expect to have any revenue? A. We already have very small revenues. I expect "significant" revenues in 1999. Q. Do you have any receivables now? A. Yes, but they are small. Q. (Paraphrasing, because my fingers are tired) Could IMON execute up to a 1 for 6 reverse split any time without additional stockholder approval or notification? A. Yes. In a press release, I thought IMON made it clear that no level of reverse split would occur unless required for regulatory reasons. The market is so volitile that I can't begin to guess the outcome on this issue. In any case, as Henry Fong said last week in the teleconference, if it has to happen, a reverse may well be beneficial to stockholders. Regards, Dave Posted: Jan 13 1999 6:03PM EST as a reply to: Msg 2797 by MakenMoney09