From BKR - When will STRU be relisted as a Bulletin Board stock
By: drummer0
Wednesday, 29 Nov 2000 at 4:09 PM EST
From BKR - When will STRU be relisted as a Bulletin Board stock
The answer is:
a)After the Company has received a "no further comment" statement from the
SEC, and
b)After the Company has made application to the NASD to be "relisted" as a
Bulletin Board stock, and
c)After the NASD confirms the "no further comment" with the SEC and
approves the application for "relisting", and
d)After Market Makers apply for and receive approval to trade our stock on
the Bulletin Board.
Please be advised that all of us at Corporate Offices, together with our
Accountants and Attorneys, are fully responding to any and all requests for
information on an "immediate priority" basis. To date, we have provided all
information requested, both formally and informally. Speaking for myself, I
can say that the whole team has worked very hard to comply with any requests
on a very expeditious basis. I realize it is hard to be patient, but
patience has been learned by all.
I know you are looking for a time frame for "relisting", and so are we. This
past weekend I did some pretty extensive research on that topic which I
would like to share with you. I printed out the complete list of companies
from the April 20th "delisting date", reviewing each of the companies listed
to see which ones were relisted now and how long of a time frame was
involved between the "no comment" date and the date they were trading on the
"Bulletin Board". As a result of my research, I came up with some very
interesting statistics:
a)There were approximately 286 companies listed in the April 20th group
(review date was March 20th), of which 156 companies failed the review (went
to the pinks).
b)Of the 156 companies that failed the review:
59 are no longer quoted.
78 are quoted on the pink sheets. (like STRU)
6 are quoted on other places.
13 are back on the Bulletin Board.
c)Of the 13 companies now traded on the Bulletin Board, only 4 had not
previously filed as of the March 20th review date. All of these 4 companies
filed form "SB 10" (Small Business) rather than the full Form 10 that
Struthers has filed. I printed out a couple of the SB 10 filings and was
surprised to see as little as 17 pages of printed material, as compared to
the 100+ pages of our most recent filing.
In summary, it would appear that STRU is "leading the pack" when compared to
most of the other companies in our progress toward relisting thus far. Also,
based upon my own research, it would appear that the time lag between the
receipt of the "no comment" statement and "relisting" varies widely - from
as little as a couple of days to several weeks. It appears that stocks which
are represented by multiple market makers return to trading more quickly
than those who have few market makers. In the case of STRU, I believe we
have 14 market makers who regularly trade our shares.
I wish I could be more specific in my reply, but unfortunately this is the
best information I can give you at this point in time.
Cheers
Voluntary Disclosure: Strong Buy : Long and Short Term
Cheers
Voluntary Disclosure: Strong Buy : Long and Short Term
