for another reverse-stock split. Didn't take very long.
On August 11, 2010, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation (the “Certificate of Amendment”) to effect a reverse stock split (the “Reverse Stock Split”) of the Company’s outstanding Common Stock, par value $0.01 per share (the “Common Stock”), at an exchange ratio up to 1-for-5 effective at 6:01 p.m. ET on August 13, 2010.
Well, this ones going to zero. Investor Relations emails are returned "undeliverable". No one is at the helm. Disgusting that a "process improvement" firm couldn't right their own ship. No accountability
I doubt it. A second split would not raise the price enough to make a difference, plus the reason for the upcoming delisting involves not enough shares held by non insiders, resulting in a traded market value less than a million. Even if the share price were over $1.00, that still would not change. It seems they are determined to spend the last of their dollars before they call it quits. This company has commited the ultimate sin - continuing to try the same old things, and expecting different results.
At the time of my post, the delisting wasn't announced. Probably a good idea. Conserve the cash for management's salaries and benefits, rather than spending the cash on the audit and listing requirements.
6:45AM Thomas Group intends to voluntarily delist from NASDAQ (TGIS) 0.69 : Co states decision to delist is based primarily on the co's desire to conserve resources, the likelihood that the co will continue to fail to meet the requirements for continued NASDAQ listing in the near future and the recognition that the benefits of maintaining the co's NASDAQ listing have declined. The co believes the benefits of its NASDAQ listing do not justify the expense and administrative burdens of maintaining the listing given the limited trading volume and low price of its common stock.