Seven Arts Entertainment Inc (SAPX)

[Mo Ism]

Don't panic: Here is my take and analysis from the filing:

" The Company’s common stock currently is trading at less than $1 and through extensions obtained from NASDAQ, has until [September [ ], 2012] to meet the $1 Rule. Management believes that the Company should meet the requirement of the $1 Rule by this date, but the Board seeks authority to implement a reverse split of the Company’s common stock if necessary to comply with the $1 Rule in this time period."

This quote pretty much confirms that extension by NASDAQ is granted until Sep 2012. Isn't this the news you have all been waiting for to clear confusion?

THE FILING IS NO SURPRISE. If anyone has read nasdaq requirements for listing: https://listingcenter.nasdaqomx.com/Show_Doc.aspx?File=FAQsContinued.html

you will know this filing was REQUIRED.

Don't believe me? Here is the exact quote:

"Thereafter, Capital Market companies can receive an additional 180-day compliance period if they meet the market value of publicly held shares requirement for continued listing and all other initial inclusion requirements for the Capital Market, except for the bid price requirement. If a Global Select Market or Global Market company is unable to comply with the bid price requirement prior to the expiration of its 180-day compliance period, it may transfer to The NASDAQ Capital Market, so as to take advantage of the additional compliance period offered on that market, provided it meets the market value of publicly held shares requirement for continued listing and all other requirements for initial listing on The NASDAQ Capital Market, except for the bid price requirement. In order to be afforded an additional 180-day compliance period a company must also notify Nasdaq of its intent to cure this deficiency. In that regard, companies must provide written notice that they intend to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If a company does not indicate its intent to cure the deficiency, or if it does not appear to Nasdaq that it is possible for the company to cure the deficiency, the company will not be eligible for the second grace period.


SO THERE YOU HAVE IT. Without this report of possibly doing a RS if neccessary, NASDAQ would not grant the SECOND EXTENSION.

Everyone remain strong. People will panic sell on Monday because of lack of understaning report. Obviously, this is a risky company. But you can either take the loss or hold on because it looks like everything is happning AS PLANNED.


Now that extension is granted they have UNTIL SEPTEMBER TO GAIN ABOVE a $1

Nothing has changed on the deal side. DMX is still coming out soon. Neuromancer should still be moving foward and having PRs. If you believed in what you were doing before, continue to do so. If you wanted to make a quick buck by gambling, well I'm sorry friend, but the house has won.

All IMO. Good Luck to All and Proceed as you see fit.