They face de-listing from the NASDAQ exchange after their price dropped to just $0.48 on Fridays close.
Todays close (Oct. 30) was $0.40 with no improvement in sight.
Remaining market capitalization: just $11 million.
I'd think once, twice and even three times before I dropped my $$ on Vegas Video.
Dr. Mordrid
Todays close (Oct. 30) was $0.40 with no improvement in sight.
Remaining market capitalization: just $11 million.
The Madison company, which makes audio and video editing and Internet streaming software, has been notified by Nasdaq that unless its stock closes at $1.00 a share or more for at least 10 consecutive trading days by Jan. 14, 2003, Sonic Foundry won't qualify to be listed on Nasdaq.
Based on Sonic Foundry's current cash position, company executives expect to have enough working capital for at least the next year.
That forecast, however, was based on enough investors converting their notes into stock. If this does not happen, the company said in the report, Sonic would need to find additional money early next year so it could make principal and interest payments of about $330,000 per month.
"If we cannot do so, we may be required to curtail or scale back our operations," the company reported.
That forecast, however, was based on enough investors converting their notes into stock. If this does not happen, the company said in the report, Sonic would need to find additional money early next year so it could make principal and interest payments of about $330,000 per month.
"If we cannot do so, we may be required to curtail or scale back our operations," the company reported.
Dr. Mordrid
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