For those that keep touting that a R/S is imminent, you are dead wrong. It will only be imminet at around October 22, 2013 (give or take a few days). How do i come to this conclusion.....???
it's simple. read the filings...
when ZLCS issued the press release in October 22,2012 telling us about this, it is all spelled out in the release as to when we need to be compliant.
April 22, 2013 is initial compliance deadline with NASDAQ. (first 180 day grace period)
If not by that date, then we apply for the Nasdaq Capital Markets which allows us another 180 day grace period, therefore we have until October 22, 2013.
ZLCS will not R/S before that time. Period.. Sure, they can choose to go that route at any time, but you would be a complete fool to do this if it wasn't required. and i have asked Justin this exact same question. do you R/S or go to lower tier? obvious answer from him was lower tier. So, any naysayer want to contest this....
and yes, we do qualify to be on the Nasdaq Capital Markets. i won't spoon feed you that, just look up the requirements.
"If the Company does not regain compliance with the Rule by April 22, 2013, the Company will be notified that its securities are subject to delisting. At that time, the Company may appeal NASDAQ's determination to delist its securities to a NASDAQ "Hearings Panel" in accordance with the NASDAQ Listing Rules. Alternatively, the Company also may consider applying to transfer the listing of its common stock to the Nasdaq Capital Market if it satisfies the requirements for initial inclusion set forth in NASDAQ Listing Rule 5505, with the exception of bid price. If its application is approved, the Company's common stock will continue to trade on the Nasdaq Capital Market and the Company will be afforded the remainder of the Nasdaq Capital Market's second 180 calendar day grace period in order to regain compliance with the bid price requirement while maintaining its listing on the Nasdaq Capital Market"
Suppose they move to Capital Market and the stock didn't go over a buck for a specified number of trading days, can they still appeal to the Hearing Panel before they get delisted? If so, that will buy them more time after the 180 days is up.
Not quite. Nasdaq Capital Markets are not considered Pink Sheets. Far from it.
"OTC Pink is an open marketplace that has no financial standards or reporting requirements. The stock of companies in the OTC Pink tier are not required to be registered with the SEC. Companies in this category are further categorized by the level and timeliness of information they provide to investors and may have current, limited or no public disclosure"