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  • investing_rules investing_rules May 18, 2010 4:51 PM Flag

    Delisting Info >>>

    FSNM will be delisted from Nasdaq on June 14th unless:

    ** Share price is above .74 (15mill market cap) allowing them to file for a 6 month extension.

    My guess is the paperwork is ready and waiting on the share price in order to file the extension.

    Its a shame they didn't file for the extension during the last run up!!! Could have been a major mistake.

    I am long and trying to stay strong!

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    • I'll admit I don't know all that much about NASDAQ listing requirements, but I did look at their website.

      The way I read it, the only continuing requirment they are in trouble with is the $1/share. They have over $10M in equity, so they would only need a market value of $5M, which they have right now.

      Their site says that they can apply to move to the Capital Markets section, which buys them a 180 extension, with a possibility of a second 180 extension. I don't know about their Capital Markets section, whether that gives traders the same access or not.
      Anyone else know?