NYSE 6 months delisting notice received Nov 30 and it traded at 94 cents then. 4 months since that notice it struggling under 60 cents. The stock needs to close for an average of $1 between April 29th to May 30th to stay listed. This count down begins in 4 weeks. If next earning carries good news, it will still be too late. They need a bazooka to shoot for that average...
JAG is dual listed on the NYSE and the TSX. Even if JAG cannot maintain NYSE listing requirements, it should be able to maintain TSX listing and trade on the Toronto Exchange. The threshold for TSX delisting is much lower than NYSE. Trading below $1 for a period of time does not lead to delisting on the TSX. The most significant hurdles for TSX listing are:
1. Assets above $3mm
2. Annual revenue above $3mm
3. At least $350,000 of annual exploration and development
4. Market value above $3mm.
5. Freely tradable shares above 500,000
While delisting from the NYSE is certainly not a good development should it come to pass, it does not send JAG to the illiquid pink sheets. As an aside, no one discussed this issue during the cc, and no one asked a question about listing status.
the average investor will get hosed guaranteed....if that occurs,this undustry is full of thugs.a simple fix is put some gold and silver on your books instead of holding dollars....its not complicated..hold back supply when price rigged drops come in....you dont need the bank jag...you are the bank...value is in the ground....