I blogged the following on 02012.01.09.
Spire (SPIR) issued the following press release on 02012.01.06: Entry into a Material Definitive Agreement, Notice of Delisting or Failure to Satisfy. Spire is in violation of two Nasdaq Marketplace Rules: the "Minimum Bid Price Rule" and the "Minimum Public Market Value Rule." At $0.69 (which is under a buck) has a market value of $5.8 million (which is under $10 million). The Spire press release ended with: "The Company is considering its alternatives at this time." Duh! A reverse split gets the stock price above $1, but it doesn't do anything to improve the company's market value.
SPIR closed yesterday (02012.01.19) at $1.05.
No comments:
Post a Comment