Seven Arts Entertainment Inc (SAPX)

[wEaReLeGiOn]

Sorry but SAPX trades on the NASDAQ capital market. The way to cure the diffeincy is by reverse splitting the stock, and that apparenlty isn't going to be allowed again.

https://listingcenter.nasdaqomx.com/Show_Doc.aspx?File=FAQsContinued.html

Thereafter, Capital Market companies can receive an additional 180-day compliance period if they meet the market value of publicly held shares requirement for continued listing and all other initial inclusion requirements for the Capital Market, except for the bid price requirement. If a Global Select Market or Global Market company is unable to comply with the bid price requirement prior to the expiration of its 180-day compliance period, it may transfer to The NASDAQ Capital Market, so as to take advantage of the additional compliance period offered on that market, provided it meets the market value of publicly held shares requirement for continued listing and all other requirements for initial listing on The NASDAQ Capital Market, except for the bid price requirement. In order to be afforded an additional 180-day compliance period a company must also notify Nasdaq of its intent to cure this deficiency. In that regard, companies must provide written notice that they intend to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If a company does not indicate its intent to cure the deficiency, or if it does not appear to Nasdaq that it is possible for the company to cure the deficiency, the company will not be eligible for the second grace period.


Company Description (as filed with the SEC)

http://www.nasdaq.com/symbol/sapx

The Group’s ordinary shares have traded in the past five years on several different markets. Starting in February of 2009, Seven Arts’ shares have been quoted on the NASDAQ Capital Market under the symbol “SAPX”. Starting in March of 2008 and continuing until February 12, 2009, the Group’s shares had been quoted on the Over-the-Counter Bulletin Board under the symbol “SAPxf”. The Group’s ordinary shares traded on the Alternative Investment Market in London, England from September 2004 until February 2007 under the symbol “SAPP”. Ordinary shares of the Group were listed on the PLUS Market in London, England starting in April 2007 under the symbol “SAPP”. The Group notified its shareholders of the decision to de-list the Group’s ordinary shares from the PLUS Market on February 25, 2009 and this de-listing was approved by the shareholders at an extraordinary general meeting on March 16, 2009 and the de-listing was effective on March 24, 2009. ... More ...


NASDAQ companies listed on the Global and Global Select Markets must maintain either $5,000,000 or $15,000,000 market value of publicly held securities (MVPHS) depending on the listing standard they qualify under.