Although I no longer hold shares of Trident, and lost some money riding it down, I like to learn from my mistakes. I'm also interested to watch (from the sidelines) how Trident plays out from here. I have no idea how things will work out, but Trident is clearly in a very difficult situation now.
How come you feel the need to keep posting that comment? You are a lying snake con-man.
My reading of the NASDAQ procedures is that Trident could get the 180-day extension only if the switch to the NASDAQ Capital Market AND they promise to do a reverse split during the 180-day period.
Looking back, I found that Trident filed a Form 8K on 18 July 2011 stating that the company had received a notice of non-compliance from NASDAQ, and specifying 17 January 2012 as the date for delisting.
Here's the link
I re-read the NASDAQ rules and concluded that Trident has two options. Trident is currently listed on the NASDAQ Global Market, which grants only one 180-day grace period. Trident can, however, appeal the delisting. The appeal process takes a bit over one month, during which time Trident would be switched from the NASDAQ Global Market to the less prestigious NASDAQ Capital Market. It seems extremely unlikely that Trident would win its appeal.
However, Trident can circumvent the appeal process by permanently switching to the NASDAQ Capital Market, where it will receive a second 180-day grace period during which the company will need to get its share price above $1.00. This would seem the most likely scenario, with a reverse split being used to accomplish the price increase.
The process can take a year or more. They will receive a delisting letter and will be granted 180 calendar days and after that they may be granted another 180 days to comply. It's a long way off.
Go back and look at the charts to find out when the share price went below $1.00 and stayed there. Then go to the official NASDAQ website and look up the rules for delisting. I did this and I can't remember all the details, but basically once a company's share price gets below $1.00, the company has a 180-day grace period before it gets delisted. The company has to get its share price back above $1.00 for a certain number of days in order to avoid delisting. If this doesn't happen by the end of the 180-day grace period, then delisting occurs. I seem to recall that the price dropped below $1.00 in June or July of 2011, so the end of the grace period is rapidly approaching. Trident can, of course, boost its share price above $1.00 by doing a reverse split.
---I seem to recall that the price dropped below $1.00 in June or July of 2011, so the end of the grace period is rapidly approaching. Trident can, of course, boost its share price above $1.00 by doing a reverse split.---
The 180 days does not start when the pps drops below $1, when they receive the letter, the clock starts, not before.