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  Listing Council Decision 2003-9
Identification Number 671
Rule 4310(c)(2)(B): $2,500,000 shareholders’ equity requirement, or its alternatives, for continued listing on the SmallCap Market.
Issue: The company no longer satisfied the shareholders’ equity requirement. The company expected to receive funding, which it believed would have a material impact on the company’s ability to complete manufacturing and shipment of additional product and result in additional profits.
Determination: The company was properly delisted for failure to comply with the shareholders’ equity requirement. The company’s assertion that additional funding would increase profits was not a definitive plan to evidence that the company can regain compliance with the shareholders’ equity requirement. In addition, the company had a history of losses.
Publication Date*: 7/31/2012 Mailto Link Identification Number: 671
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