Ashton Technology Group (fka ASTN)

[Bird of Prey]

As usual


You either don't have a very high level of reading comprehension or you simply ignore those facts which don't fit your view.


Fact 1 NASDAQ says "...companies will not be cited for bid price or market value of public float deficiencies."

Fact 2 NASDAQ says "Companies currently under review for deficiencies or in the hearings process will be taken out of the process with respect to the bid price or market value of public float requirements. No deficiencies will accrue during the proposed
suspension process."


These statements from NASDAQ make clear that, regardless of the status before 9/26/01, no delisting will occur for these two reasons until after 1/2/02.


You are correct that ASTN does indeed have difficulty in meeting the third requirement. However, not as much as you would wish to imply.

According to http://www.nasdaq.com/about/nnm1.stm Companies must have Either $10 million in Stockholders equity OR $4 million in net tangible assets (if the company qualified prior to July 2001 as ASTN did). This is outlined in note #1 on the page referenced above.

You have pointed out yourself that ASTN has ~3.6 million in net assets. This means that in order to clear this third hurdle they would need to add ~$400,000 cash to meet that requirement. I believe the amount accessed in the most recent financing did exceed $400K by a significant amount. On 9/21/01 they drew 1.2 million from the equity line.


Given that NASDAQ has suspended the Bid Price and Market Value of Public Float requirements until 1/02/02 and the rather high probability that ASTN was able to meet the third requirement at least on a temporary basis...why are you still expecting them to be delisted any day now?

Further, in post http://www.investorshub.com/boards/read_msg.asp?message_id=194444 you state "I don't see a waiver for minimum bid there." even though the NASDAQ Document clearly covers the minimum bid. Additionally, you have clearly misrepresented the Net Assets requirement as being $10 million. What is stated unequivically at http://www.nasdaq.com/about/nnm1.stm is that $10 Million in Stockholder Equity is required unless those companies listed prior to July, 2001 wish to use the $4 Million Net assets figure, which they may do until November 2002. There is no $10 Million Net Assests requirement as you have hammered relentlessly for weeks now.

You have said several times that I need to check my facts before posting. I wholeheartedly agree. Feel free to continue demonstrating that you cannot comprehend simple English or have no regard for the truth.


BTW, it is not in the realm of impossibility that ASTN will escape Delisting altogether.

The Bird of Prey