Board Diversity
Reference Library - Advanced Search


** 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; All
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
Page: 1 of 1
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.