Technology Marketing’s Stock Will Remain Listed

Technology Marketing Inc., an Irvine-based electronics and software design firm, said it has secured a waiver to allow continued listing of its common stock on the National Assn. of Securities Dealers’ Automated Quotation System pending completion of an audit of its third-quarter financial results and the filing, expected in late May, of its annual financial report with the Securities and Exchange Commission.

The unaudited results gave the company a loss of $90,000 for the period, which dropped its net worth below the $375,000 minimum necessary for listing on the NASDAQ system, according to Edward A. Stoltenberg, vice president and financial officer.

But Stoltenberg said the company has persuaded NASDAQ officials that the audited annual results will reduce that loss and enable Technology Marketing to maintain a net worth of at least $375,000.

Technology Marketing specializes in the design and development for other companies of high technology products, including computers and software, telecommunication systems and other electronic devices and systems.

The company, which went public in March, 1981, has 2.8 million common shares outstanding. Two principals control 70% of the stock, which was issued at $6 per share and currently is selling for “around $1” a share, Stoltenberg said.