That used to be the procedure - until a LARGE number of Nasdaq stocks were
trading under $1 and the Nasdaq was embarrassed into either delisting them
all and losing a lot of fees (which they could NOT afford) or changing the
30 day requirement so that the hundreds of companies could still meet the
vastly diluted listing standards.
Kind of like if the majority of contesters had 1/2 the q's in their logs
thrown out and in order for the contest sponsor to avoid the embarrassment
of DQ'ing most of them, the sponsor instead told the log-checkers to stop
checking logs and to publish the high-claimed scores as official results!
73
Bob KQ2M
----- Original Message -----
From: "Mike Mellinger WA0SXV" <wa0sxv@mellinger.com>
To: <TOWERTALK@contesting.com>
Sent: Saturday, July 26, 2003 12:57 PM
Subject: RE: [TowerTalk] Re: [CQ-Contest] Rohn Going SK?
> Actually, there is a formal delisting procedure. I believe that the
initial
> process is triggered by trading below one dollar for thirty days. Then
> there are provisions for notice, hearing, protest, and the like. Takes a
> while to get de-listed based on stock price.
>
> 73,
> Mike WA0SXV
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