DCIX Diana Containerships - Be careful your stuff is not on the Paradise Papers. Companies are not disclosing when 10% rule is in effect for SEC disclosure like Apple and many others.
DCIX surge cannot compare LACDD's, because DCIX's was the result of a 1-for-3 reverse stock split (consolidation) in September and another 1-for-7 in November, which DCIX clearly did simply to keep themselves from getting delisted from the NASDAQ. See here: https://seekingalpha.com/article/4121037-diana-containerships-short-squeeze-look
Delisting
DCIX received a notice from Nasdaq on July 31st indicating
that the company is no longer in compliance with the continued listing requirement under Nasdaq Listing Rule 5450 (B)(1)(C) because the market value of publicly held shares ("MVPHS") was below $5,000,000 for 30 consecutive business days. DCIX had 180 days from the notice date to cure this issue.
Pursuant to Nasdaq Listing Rule 5810 (C)(3)(D), the applicable grace period to regain compliance is 180 calendar days, or until January 29, 2018. The company can cure this deficiency if the company's MVPHS closes at $5,000,000 or more for at least ten consecutive business days during the grace period.
The DCIX situation is very much not the same thing as what LACDD did here, because LACDD did a 1-for-5 reverse stock split (consolidation) for the explicit and expressed purpose of making its debut on the NYSE. Plus, DCIX is a shipping company and LACDD is a pure-play lithium miner and the first of its kind to (hopefully) be listed on the NYSE any day now! LACDD has potential and upside that DCIX will never and COULD never have.
After DCIX's split, it's important to note that they have less than a million shares outstanding, whereas LACDD has over 88 million currently outstanding.
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