referencelibrarybanner
Listing Center Coronavirus FAQs for Nasdaq-listed Companies
Reference Library - Advanced Search
Find
 


Library 



 
Timeframe
Category
 
Sub-Category
** To make multiple selections, select the first criterion and then press and hold the Ctrl Key **
 
1- 1 of 1 Search Results for:
Libraries:   Listing Council Decisions
Filters:   All Years; Continued Listing;
 
Search   Clear


Expand All
Printer Friendly View
Mailto Link 
Page: 1 of 1
Frequently Asked Questions
  Listing Council Decision 2003-17
Identification Number 663
Rule 4310(c)(2)(B): $2,500,000 shareholders’ equity requirement, or its alternatives, for continued listing on the SmallCap Market.
 
Issue: At the time of the Panel decision, the company did not meet the minimum shareholders’ equity requirement or its alternatives, and its plan to raise additional equity was not sufficiently definitive. The company requested that the Panel include its contract and tax assets, which were not fully reflected on the company’s balance sheet under generally accepted accounting principles, in the calculation of shareholders’ equity. In the alternative, the company was considering a plan to effect a quasi-reorganization, which would allow a fresh start restructuring of its shareholders’ equity.
 
Determination: The company was properly delisted for failure to comply with the shareholders’ equity requirement. The Panel’s unwillingness to consider the inclusion of assets not captured on the company’s balance sheet was appropriate. Further, the company did not provide documentation to evidence its ability to restructure its shareholders’ equity in the near term.
Publication Date*: 7/31/2012 Mailto Link Identification Number: 663
material_search_footer*The Publication Date reflects the date of first inclusion in the Reference Library, which was launched on July 31, 2012, or a subsequent update to the material. Material may have been previously available on a different Nasdaq web site.
Page: 1 of 1
home_footer_links
Copyright_statement
App Store       Google Play       Listing Center Content RSS Feed
The Nasdaq Stock Market, Nasdaq, The Nasdaq Global Select Market, The Nasdaq Global Market, The Nasdaq Capital Market, ExACT and Exchange Analysis and Compliance Tracking system are trademarks of Nasdaq, Inc.
FINRA® and Financial Industry Regulatory Authority, Inc.® are registered trademarks of Financial Industry Regulatory Authority, Inc. OTCBBTM and OTC Bulletin BoardTM are trademarks of FINRA