by Travis Johnson, Stock Gumshoe | June 4, 2010 4:43 pm
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I noticed that on May 18 EFOI received a NASDAQ delisting notice “indicating that its shareholder equity as shown in its Condensed Consolidated Balance Sheet as of March 31, 2010 was $9,727,000, which is less than the minimum $10,000,000 required by NASDAQ Listing Rule 5450(b)(1)(A) .” Not an expert, but that doesn’t seem to bode well for the company.
Well worth noting — yes, these guys are the size where it’s almost ridiculous to be a public company, they had a threatened delisting last year for trading under a dollar, too.
So I guess the question is: when this newsletter touts something, what is the usual near-term effect?
Also, given market volatility, and the distinct possibility of this stock being driven lower by overall market weakness, at what point does NASDAQ de-list them?