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Broadway Financial Corporation Message Board

  • superkeeneye superkeeneye Mar 6, 2013 8:46 PM Flag

    Delisting news coming?

    Very possible.

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    • Is that news coming??? C'mon keen eye.

      "In accordance with Nasdaq's Marketplace Rule 5810(c)(3)(A), the Company has a period of 180 calendar days, or until July 2, 2013, to regain compliance with the Rule. If at any time before July 2, 2013, the bid price of the Company's common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the Rule.

      If compliance with the Rule cannot be demonstrated by July 2, 2013, the Company's common stock will be subject to delisting from The Nasdaq Capital Market. In the event that the Company receives notice that its common stock is subject to being delisted from The Nasdaq Capital Market, the Company may be eligible for additional time, provided that the Company can meet all other initial listing requirements for the Nasdaq Capital Market and provides written notice of its intention to cure the deficiency during the second compliance period of an additional 180 days, by various plans, including effecting a reverse stock split, if necessary."

    • I can't quite tell what your position is by your posts. Either you have a very odd agenda, or you really don't know what you're doing in positions like these. With the recap plans on the table there is no way they let this stock get delisted people. It is not that hard to avoid. Reverse splits take about 1 to 2 weeks to get board approvals and they need to authorize more shares for the recap conversions as it is. Reverse splits in the distressed bank recovery area are not the kiss of death they have historically been in other areas. Look at CRBC who reverse split from $0.70 to $7.00 2 years ago to buy time to complete their troubled asset resolution and then had an announcement of being acquired 6 months ago for $23.00. I can give other exmples if you'd like.

      Sentiment: Strong Buy

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