XG Technology, Inc (XGTI)

[calbwt]

There have been 3 reverse splits, but two were essentially done at the same time (25:1 and 1.4:1, together effectively 35:1). The other was a 10:1 last August.

The first one (two) was done when they first listed on Nasdaq. They had been trading in London for years and had been pumped up to $18 at one point, but fell to 15 cents. That first (two) reverse split appears to have been done to get the share price high enough to qualify for listing on Nasdaq after volume had dried up in London. The second (third) was done to get the share price back above $1 after falling below $1 and they got a delisting notice.

Very shortly after they did the reverse split and got back into compliance they sold more shares, fell back below $1, and got another delisting notice. They are less than 2 weeks from the end of another 180 day grace period to get back above $1.

My guess is that they get delisted this time. I think it's too late for a reverse split to still meet the March 28 deadline, and I don't see how they can qualify for a second grace period without the share price above $1. If somebody could explain how they could qualify for another grace period, I'm all ears.