It appears, that some of the resident shorts and pretend longs don't even know how delisting actually works.
Additional Compliance Period for NCM Listed Companies: If a company listed on the NCM is unable to regain compliance with the $1.00 minimum bid price requirement within the initial 180 day period, it will receive a second 180 day grace period provided the company (a) has at least $1 million in market value of shares held by non-affiliates and satisfies all of the other listing requirements for initial listing on the NCM (except the bid price requirement) and (b) notifies NASDAQ of its intent to cure the listing deficiency. If it does not appear to NASDAQ that it is possible for the company to cure the deficiency, this second grace period will not be granted.
Does SVNT satisfy any longer the INITIAL listing requirement for the NCM? For example, does it have a positive shareholder equity? No, it is negative. I do not think that SVNT will be granted a second grace period. In fact, the10-Q does not mention this possibility.
Nasdaq often waives stockholder equity requirement, there are numerous companies that are trading with stockholder deficit, however I do agree, that they have to make a request and request has to be granted.
C757, I didn't read all of the "Risk Factors" in the 10Q, not even the titles. There's frigin 25 pages of em! If Savient had chosen to "mention this possibility", do you think they would have placed it in the Risk Factors, or someplace in the 10Q? kg