“The new funds, the exchange of Series A and C warrants, as well as the previously announced conversion of subordinated debt to equity, were arranged to position the company [for the second quarter of 2015] to both have stockholders’ equity in excess of the minimum stockholders’ equity of $2.5 million—as required by NASDAQ as one option for meeting the continued listing standards — and to have positive working capital.”
Guess that makes it official. Delisting is no longer an issue! Think I may be a RGSE long now. Psyched to see what this CEO can do.