With current market conditions they aren't alone by a long shot. Anyhow, there are 2 significant difference between the 2 letters from Nasdaq.
Letter 1.
On August 24, 2011, CyberDefender Corporation (the “Company”) received a letter from the Listings Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) stating that, because the Company’s Market Value of Listed Securities (“MVLS”) (as that term is defined in Nasdaq’s Listing Rules) was less than $50,000,000 during the period from July 13, 2011 to August 23, 2011, the Company no longer meets the requirement of Listing Rule 5450(b)(2)(A). The Nasdaq letter also states that the Company does not meet the total assets and total revenue standard of Listing Rule 5450(b)(3)(A), and a deficiency therefore exists with regard to the Listing Rules.
The Nasdaq letter states that, pursuant to the Listing Rules, the Company has a 180 day compliance period, which expires on February 21, 2012, during which it must comply with the Listing Rules. If during the compliance period the Company’s MVLS closes at $50,000,000 or more for a minimum of ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and the matter will be closed.
Using 27 million O/S which is about 700,000 above the last 10q that would equate to approx $1.85/share.
Letter 2.
On September 16, 2011, CyberDefender Corporation (the “Company”) received a letter from the Listings Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) stating that, because the Company’s Market Value of Publicly Held Shares (“MVPHS”) (as that term is defined in Nasdaq’s Listing Rules) was less than $15,000,000 during the period from August 3, 2011 to September 15, 2011, the Company no longer meets the requirement of Listing Rule 5450(b)(2)(C).
The Nasdaq letter states that, pursuant to the Listing Rules, the Company has a 180 day compliance period, which expires on March 14, 2012, during which it must comply with the Listing Rules. If during the compliance period the Company’s MVPHS closes at $15,000,000 or more for a minimum of ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance prior to the expiration of the compliance period, the Company will receive written notification from Nasdaq that the Company’s securities are subject to delisting. The Nasdaq letter also states that, alternatively, the Company might consider applying for a transfer to the Nasdaq Capital Market provided the Company satisfies the requirements for continued listing on that market.
Using the same O/S of 27 Mil and I hope I'm doin this right and I think I am comes to approx .555/share. Huge difference and longer to comply as well. That's one hell of an incentive for the company to get er done and very reachable imo. We still have the weekly pincher in place and although by comparison the short position is small it's about 8-10 times the avg daily volume so my opinion is once the market realizes what has changed and I think it has already just based on increased sizes in bids we may have a winner.
AI
