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Amistar Corporation Message Board

  • traderleeson traderleeson Aug 25, 2005 1:35 PM Flag

    8/15/05: Nasdaq Delisting Notice

    Be very careful folks.
    AMTA has to convince Nasdaq to stay on their exchange by 8/30 or else its pink sheet time.
    Company didn't even issue a PR for this one. Very sneaky.



    ITEM 3.01 NOTICE OF DELISTING FOR FAILURE TO SATISFY A CONTINUED LISTING RULE OR
    STANDARD; TRANSFER OF LISTING.

    On August 15, 2005, Amistar Corporation (the `Company") received a letter from
    The Nasdaq Stock Market Listing Qualifications Department informing the Company
    that it is reviewing the Company's eligibility for continued listing on the
    Nasdaq Small Cap Market because of the Company's failure to comply with Rule
    4310(c)(2)(B). Rule 4310(c)(2)(B) requires the Company to have (i) a minimum of
    $2,500,000 in stockholders equity, (ii) $35,000,000 market value of listed
    securities, or (iii) $500,000 of net income from continuing operations for the
    most recently completed year or two of the three most recently completed fiscal
    years.

    The Company has been asked to provide a specific plan to achieve and sustain
    compliance with the Nasdaq Small Cap Market listing requirements, including the
    time frame for completion by August 30, 2005. The Company is currently
    considering its options. In the event the Company is unable to deliver a plan
    acceptable to Nasdaq, the Company expects to receive notification that its
    securities will be delisted.

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