Post by fastwalker on Aug 20, 2004 19:40:29 GMT -5
FYI / FWIW....Prosoft Provides Additional Nasdaq Listing Status Information
Friday , August 13, 2004 16:15 ET
PHOENIX, Aug 13, 2004 (BUSINESS WIRE) -- ProsoftTraining (NASDAQ: POSO) today disclosed additional information related to its Nasdaq SmallCap Market listing.
Prosoft previously announced it had requested a hearing with a Nasdaq Listing Qualifications Hearing Panel to appeal Nasdaq staff's determination that Prosoft's proposed merger with Trinity Learning Corp. would constitute a reverse merger under Nasdaq guidelines, thereby requiring the post-merger company to meet the exchange's more-stringent initial listing requirements. The request was granted and an oral hearing was held on July 1, 2004. As previously announced, the merger was terminated on July 23, 2004. On Aug. 9, 2004, Nasdaq informed Prosoft that, as a result of the termination, the company is no longer subject to Marketplace Rule 4330(f) and the deficiency concern has been rendered moot.
Prosoft also previously announced it had received notice that, in order to comply with Marketplace Rules 4350(e) and 4350(g) to remain listed, Prosoft was required to solicit proxies and hold its 2003 annual meeting of shareholders prior to July 31, 2004. Prosoft filed a Proxy Statement on July 26, 2004, immediately upon the termination of the merger, and will hold its 2003 annual meeting of shareholders on Aug. 26, 2004. On Aug. 9, 2004, Nasdaq notified Prosoft that it no longer complies with the annual meeting requirement as set forth in Marketplace Rule 4350(e), and that its securities are, therefore, subject to delisting from the Nasdaq SmallCap Market. Nasdaq also requested additional information from Prosoft and notified it that the above-mentioned Listing Qualifications Hearing Panel will consider the Marketplace Rule 4350(e) issue in rendering a decision concerning the company's listing status. There can be no assurance the panel will grant the company's request for continued listing.
www.knobias.com/individual/public/news.htm?eid=3.1.25e26f0e4847c3 5e02f50b0cf8baf0dc267e19ba3d0954701e23d597944d738a
This one may rebound...but....... Do your DD, before investing in any stocks... 