Roman Fights To Remain Listed
Created 12/05/2000 - 01:00
files/pictures/picture-35.jpgAnimation house Film Roman has filed documents with the Securities and Exchange Commission to keep the company's stock traded on the Nasdaq stock exchange. On November 28, 2000, Nasdaq notified Film Roman that it no longer met the minimum price to keep its listing on the Nasdaq Small Cap Exchange. Regulations say that if a stock price slips below US$1 per share for more than 30 days it risks being pulled from the market. Film Roman will defend its stance that its stock should continue to be traded at a hearing on December 19. At Monday's close, Film Roman stock was priced at $.56 per share. This wouldn't be the first time a toon-related company was delisted from the Nasdaq market this year. On Monday, November 2, 2000, Iwerks was removed from the Nasdaq exchange for the same reasons pending against Film Roman. After being delisted, Iwerks' common stock was immediately eligible for trading on the OTC Bulletin Board under the new symbol IWRK.OB. The OTC Bulletin Board is a regulated quotation service that displays real-time quotes, last-sale prices and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on Nasdaq or a national securities exchange. OTCBB securities include national, regional and foreign equity issues, warrants, units, American Depositary Receipts (ADRs) and Direct Participation Programs (DPPs).