30, 1998, the company has fallen below the net tangible
assets requirement for continued listing of the company's securities on the Nasdaq Small Cap Market.
1875 which were awarded to chairman Philip Kives on December 15, which Kives has said he will exercise by December 31, and the company believes it can exceed Nasdaq's minimum net tangible
assets requirement - in spite of a $1m loss for the quarter.
0 million net tangible
assets requirement or the minimum $10.
Specifically, the Company failed to comply through May 15, 2002 with the $4 million net tangible
assets requirement under maintenance standard 1 and the $15 million market value of publicly held shares and the $3 bid price requirements under maintenance standard 2 (Nasdaq Marketplace Rules 4450(a)(3), 4450(b)(3) and 4450(b)(4)).
second, we will file the required listing application; and third, we will present to the NASD the Company's plan for achieving the $4,000,000 net tangible
assets requirement, including the conversion into equity of certain loans made by management to the Company.
Nasdaq:IBUY), a provider of e-commerce services and technologies, today announced that it has received a Nasdaq Staff Determination indicating that the Company fails to comply with the net tangible
assets requirement (Marketplace Rules 4450(a)(3)), or the alternative stockholders' equity requirement (Marketplace Rule 4450(b)(1)), the minimum bid price requirement (Marketplace Rule 4450(a)(5)) and the market value of public float requirement (Marketplace Rule 4450(a)(2)) for continued listing, and that its securities are, therefore, subject to delisting from the Nasdaq National Market.
Based on the Form 10-Q for the period ended September 30, 2001 the Staff determined that the Company no longer meets the net tangible
assets requirement, or the alternative stockholders' equity requirement, for continued listing set forth in Marketplace Rule 4450(a)(3) (or the alternative listing criteria under Marketplace Rule 4450(b)(1)).
PowerCerv provided the Nasdaq panel with evidence of its current compliance with the shareholders' equity/net tangible
assets requirement, as well as what the company considered reasonable support for its view that it can sustain compliance with all applicable listing requirements for the foreseeable future.
8, 2001, indicating that the Company does not meet the net tangible
assets requirement, or the alternative stockholders' equity requirement, for continued listing set forth in Marketplace Rule 4310(c)(2)(B), and that its securities are, therefore, subject to delisting from The Nasdaq SmallCap Market.
Nasdaq:TLNT), a wired and wireless data transmission and network access products provider, today announced that as a result of second quarter performance, the company is now substantially closer to complying with the $2 million minimum net tangible
assets requirement for continued listing on Nasdaq.
rStar additionally announced that it has been advised by the Nasdaq National Market (NNM) that the company's compliance with the NNM's $4 million minimum net tangible
assets requirement in accordance with Nasdaq Marketplace Rule 4450(a)(03) will be reviewed by the Nasdaq Listing Qualification Panel at a hearing previously scheduled to review the company's non-compliance with Nasdaq's minimum bid price requirement of at least $1.
The hearing will take into consideration the Staff Determination that the Company fails to comply with the minimum bid price requirement for continued listing set forth in Marketplace Rule 4310(c)(4), and the net tangible
assets requirement as set forth in Marketplace Rule 4310(c)(02)(B).
