Reverse Stock Split == Corporate Suicide or will be consider

Post #283,305 by folkert 4/29/07 12:20:15 AM Reply	Reverse Stock Split == Corporate Suicide or will be consider The stock will RACE down farther once the reverse split is complete. They think $0.90 is low... wait until the 2 or 3 to 1 reverse splits goto $0.70 or even lower. October seems to be a bad omen for SCOg period. At least until Microsoft buys "ME, Inc." from them. -- [link\|mailto:greg@gregfolkert.net\|greg], [link\|http://www.iwethey.org/ed_curry\|REMEMBER ED CURRY!] @ *i_wethey* Freedom is not FREE. Yeah, but 10s of Trillions of US Dollars? SELECT * FROM scog WHERE ethics > 0; 0 rows returned.
Post #283,314 by a6l6e6x 4/29/07 9:45:23 AM Reply	Reverse splits may not be enough. Share price of $1 or more is only one of the requirements. NASDAQ also requires 750,000 shares to be held by the public (i.e. other than corp. officers, directors, and major owners (>10% shares). The value of the public shares must exceed $5M. The number of shareholders holding 100 shares or more must be at least 400. There must be at least 2 market makers, i.e. firms that are willing to, at a price, sell and/or buy the stock. [link\|http://www.nasdaq.com/about/nasdaq_listing_req_fees.pdf\|(PDF) NASDAQ Reference] As a public company, SCOX is definitely circling around the drain. Alex When fascism comes to America, it'll be wrapped in a flag and carrying a cross. -- Sinclair Lewis
Post #283,315 by JayMehaffey 4/29/07 12:16:35 PM Reply	Share Number shouldn't be a problem Share price of $1 or more is only one of the requirements. NASDAQ also requires 750,000 shares to be held by the public (i.e. other than corp. officers, directors, and major owners (>10% shares). The value of the public shares must exceed $5M. The number of shareholders holding 100 shares or more must be at least 400. There must be at least 2 market makers, i.e. firms that are willing to, at a price, sell and/or buy the stock. Here is a summary [link\|http://www.marketwatch.com/tools/quotes/financials.asp?symb=scox&sid=1453151&report=2&freq=2\|balance sheet]. If I'm reading it right there are 21 million shares, so even with multiple reverse splits they won't have a problem with the number of shares. The total value is around $18 million no, so if the price collapses after the reverse split they could end up with a problem against the $5 million rule. I have no idea how their shares brake up, but that could be a concern if large chunks are held by a few (stupid) investment groups. Jay
Post #283,334 by folkert 4/29/07 7:21:58 PM Reply	October is when they "said" cash runs out. So, unless M$ buys ME, Inc, they are goners on NASDAQ anyway. The 30 business day sub-$1.00 thing was the straw... YEA! Actually, SCOX is already in a sink with clogged drain... I am just waiting on Novell (or IBM if it gets impatient) to plunge. -- [link\|mailto:greg@gregfolkert.net\|greg], [link\|http://www.iwethey.org/ed_curry\|REMEMBER ED CURRY!] @ *i_wethey* Freedom is not FREE. Yeah, but 10s of Trillions of US Dollars? SELECT * FROM scog WHERE ethics > 0; 0 rows returned.

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