Danger!! Danger!! Sale!! Sale!! Delisting..Going to a Penney per share
Press Release Source: Interactive Systems Worldwide, Inc.
ISWI Announces Receipt of Nasdaq Determination Wednesday May 16, 7:20 pm ET
WEST PATERSON, N.J., May 16 /PRNewswire-FirstCall/ -- Interactive Systems Worldwide Inc. (Nasdaq: ISWI - News) today announced that, pursuant to the Company's May 15, 2007 request to withdraw its appeal to the NASDAQ Listing Qualifications Panel, the Company received notification today from the NASDAQ Listing Qualifications Hearings Department that the Company's securities will be delisted from NASDAQ effective with the open of business on May 18, 2007. The Company determined to withdraw its request for a hearing, which was scheduled to occur on May 17, 2007, due to its inability to conclude in a timely manner an equity financing transaction, which would have enabled the Company to regain compliance with NASDAQ's shareholders' equity requirement.
As I've said before, this company is in the process of doing a huge swan dive into the concrete sidewalk of business & life. Whatever equity remains will be diluted beyond your wildest dreams when it is acquired by some other firm willing to complete the product in a timely manner and market it to the right audience. Unfortunately, company manaagement does not have the ability to bring the product to the next level of success.