It has been just about 2 months now since the rumor about the capital notes resolution and still no word. I thought back then it was just a rumor released into the media to try and get the share price back to $1...and I still believe that.
In other news regarding the NASDAQ delisting: we have 4 months until official delisting. We are almost over $1, we just need some good news to push this thing to $1.05 for 10 consecutive trading days.
Yes I agree with that sentiment. It is also hard to picture a scenario of a company doing roughly $800 million in revenue per year getting delisted and trading on the OTC/Pink Sheets. However, anything is possible.
In terms of the extension: I was under the impression that NASDAQ gave Tower a 6 month period (which ended March 15th or 19th - I don't remember which one) to get back to $1. If they can't comply, then they are given another 6 month "extension" and trade on the NASDAQ Capital Market (which is what they are on now). This 2nd 6 month period will end Mid September 2012 (in 4 months). I am also under the impression that NASDAQ does grant another extension to a few certain cases. I don't know what they look at for giving another extension but if Tower cannot reach $1 in 4 months time, I pray to God that they receive an additional time period.