Sunday, 30 September 2007

A small reprieve for SCO

You may remember that SCO were due to be delisted from Nasdaq on Friday due to their bankruptcy but had placed an appeal. Well, they've been successful and so will remain listed pending further discussions.

"The Company also has received a hearing date of November 8th, 2007 regarding non-compliance of Nasdaq Marketplace Rules 4300 and IM-4300. As such, the Company's common stock will not be delisted on September 27, 2007 as previously indicated by Nasdaq. Instead, the delisting action has been stayed, pending a final written decision by the Nasdaq Listing Qualifications Panel."

This doesn't mean that it's all plain sailing for SCO as they have also received another notice of delisting due to the low price of their stock. Basically it means that their stock has been trading under the minimum price of $1 for 30 days. They now have 180 days to lift the share price or they face delisting for this too.

Some days you just can't win.

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