I care enough that when Zalicus' homeboy Jason Napodano writes: "They will probably get a letter of notice shortly. Then they will have 180 days until delisting, so I don't see a risk of a R/S anytime soon." By "they" Napodano is referring to the NASDAQ.
Since the plunge below $1, 180 DAY clock has started ticking. That means, Zalicus may very well be forced to execute a reverse stock split. If that happens, not only will investors lose even more money, but today will be America's tomorrow.
There is no merit is HOLDING a stock that is on life-support. By spring, Napodano is telling investors that a reverse stock split is inevitable.
STRONG STRONG SELL
I will contest your statements. As per Nasdaq and the way I read the regs, Zlcs should receive notice on the 22nd of this month about delisting. Simple math and a calendar . We dropped below $1 on September 10th. 30 consecutive "trading" calendar days is the 19th. Therefore letter the following Monday. Then we have an additional 180 calendar days to comply which means that we need to trade above $1 for 10 consecutive business days before march 19th of next year. Anything can happen between now and then , so I don't see why a r/s is inevitable? There are many things that could propel us above $1 between now and then.
What is NASDAQ's compliance process for companies failing to meet the $1.00 minimum bid price requirement?
NASDAQ uses the consolidated closing bid price to determine whether a company complies with this requirement. If a company trades for 30 consecutive business days below the $1.00 minimum closing bid price requirement, NASDAQ will send a deficiency notice to the company, advising that it has been afforded a "compliance period" of 180 calendar days to regain compliance with the applicable requirements.
Thereafter, Capital Market companies can receive an additional 180-day compliance period if they meet the market value of publicly held shares requirement for continued listing and all other initial inclusion requirements for the Capital Market, except for the bid price requirement. If a Global Select Market or Global Market company is unable to comply with the bid price requirement prior to the expiration of its 180-day compliance period, it may transfer to The NASDAQ Capital Market, so as to take advantage of the additional compliance period offered on that market, provided it meets the market value of publicly held shares requirement for continued listing and all other requirements for initial listing on The NASDAQ Capital Market, except for the bid price requirement. In order to be afforded an additional 180-day compliance period a company must also notify Nasdaq of its intent to cure this deficiency. In that regard, companies must provide written notice that they intend to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If a company does not indicate its intent to cure the deficiency, or if it does not appear to Nasdaq that it is possible for the company to cure the deficiency, the company will not be eligible for the second grace period.
In order to achieve compliance with the bid price requirement, a security must maintain a closing $1.00 bid price for a minimum of 10 consecutive business days. Although an automated computer system tracks each company's bid price on a daily basis, it is suggested that the company contact its Listing Qualifications analyst when it believes compliance has been achieved. NASDAQ will provide all compliance determinations, in writing, to the company.
If the company does not demonstrate compliance within the compliance period, it will be issued a delisting letter, which it may appeal at that time. See Hearings Process for additional information. (Updated: November 17, 2010)
Allan, I only have the highest regards for you because I know like me you are an investor.
I respectfully agree to disagree that Zalicus will break $1/share before 19 March 2013. I hope you're right, but I think you're wrong. I think Zalicus is an under-$1 stock until latter half 2013.
As for Jr., and his types, why the boyish attacks and why not discuss the pros and cons?
Allan, I hope you're right. But IMO, I think you're wrong. Happy investing.
I'm with Stockwaun... R/S is really really a certainty in the near future. After the R/S, I will let the price settle down, then I will maybe buy, that's a big maybe... Depends On Snutch!!!
stockwaun stop having conversations with yourself, aka Zeissia.....i understand why you do what you do but your calls above are outlandish and all intended to mislead....your calls are way off base and everyone knows it...its starting to destroy your credibility or whats left of it and I'm not really sure why your pushing so hard here.... you saying that they can not recover over the next 6 months over 1 dollar.... really stockman you and i both know thats #$%$...management is not even thinking about at r/s they have multiple months before htats even on the table
I ONLY raise the R/S because Zacks Napodano said "six months"... 6 months puts Zalicus around the April 2013 time-frame, and Napodano wouldn't say that unless he believed it.
CTIC investors walked thru a R/S and it was ugly. It's always ugly.
With almost 130M shares, Zalicus could do the same to lower common shares and then later set up the company for further dilution. It's an old story, but a common story in biotech land.
The naive investors needs to know this. I WILL NEVER BUY A STOCK THAT IS VULNERABLE TO A REVERSE SPLIT FOLLOWED BY DILUTION.
That is exactly where Zalicus may be heading in 2013, and Jason Napodano is paving the way.
I'm 200% behind Z160, but I also know the market loves to rape and pillage the small investor. I sometimes think I am the rare voice speaking on behalf of the small investor. Zalicus is in deep trouble.
The small investor will sit this one out and wait. Let Zalicus play out a few months. This is not the stock to buy.
Daug, all I am going to say is that I WILL have something special for you in the very near future. I got a few important things on my plate right now that much more important than you but, rest assured, by christmas, you will have a nice surprise....Let's put this way, made some important phone calls and the days of daug are numbered.....
Karma could be a real.................................
Threats are unnecessary Jr. I want the best for people including you. I want Zalicus to succeed and I want investors to succeed. But the reality is, the market is a cruel place. The market does what the market does.
You Jr. expend too much energy pointed in the wrong direction. I'd truly be happy to see everyone profit, but the reality is, we must deal with reality.
Why not Jr. behave like a responsible adult and think, How might one best trade Zalicus for a profit? How might we make money?
I see the market take money from naive investors everyday. Zalicus is no different. You should really try to grow up and try to do your fellow investor some good.
Why not learn how to trade volatile biotechs? Why not learn how to beat the market? Why not learn how to make money?
You Jr. would do better to let go and learn from those who contradict you rather narrow world view. When Jason Napodano says "6 months" I sit up and listen.