The first reason the insiders are buying is they want to make some cash...LOL
Then, there is the Nasdaq notice they need to service if PEIX has any chance of doing well in the future. This shows a level of commitment that carries far in the investing world.
Over a dollar is a must if PEIX is to prosper sooner than later. They sure don't want a Reverse Split...LMAO
The 8k......
16-Sep-2011
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Stand
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On September 13, 2011, Pacific Ethanol, Inc. (the "Company") received a letter from The NASDAQ Stock Market ("Nasdaq") indicating that the bid price of the Company's common stock for the last 30 consecutive business days had closed below the minimum $1.00 per share required for continued listing under Nasdaq Listing Rule 5550(a)(2). Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until March 12, 2012, to regain compliance. The letter states that the Nasdaq staff will provide written notification that the Company has achieved compliance with Rule 5550(a)(2) if at any time before March 12, 2012, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days. Notwithstanding the minimum 10 consecutive business day requirement, the Nasdaq staff may exercise its discretion to extend the 10 day period as discussed in Nasdaq Listing Rule 5810(c)(3)(F).
If the Company does not regain compliance with Rule 5550(a)(2) by March 12, 2012, the Company may be eligible for an additional 180 calendar days to regain compliance. To qualify, the Company must meet the following criteria:
? Nasdaq's continued listing requirement for market value of publicly held shares; and
? Nasdaq's initial listing standards for The NASDAQ Capital Market, with the exception of the $1.00 minimum bid price requirement.
If applicable, the Company will also be required to provide written notice to Nasdaq of its intention to cure the deficiency during the additional 180 day compliance period by effecting a reverse stock split, if necessary. If the Company meets the foregoing requirements, the Nasdaq staff will inform the Company that it has been granted an additional 180 calendar days to regain compliance. However, if it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Nasdaq staff will provide notice that the Company's securities are subject to delisting. At that time, the Company may appeal Nasdaq's determination to delist the Company's securities to a Hearings Panel.
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