Veritec’s Stock to Remain on NASDAQ Listings

Veritec said its common stock will continue to be listed with the National Assn. of Securities Dealers Automated Quotations system (NASDAQ), even though the company has fallen below the group’s minimum asset requirement of $750,000.

The NASD said it granted an exception to the Calabasas Park company because management has promised that net assets will top the minimum by June 15. Robert M. Stander, Veritec’s president, said he expects new orders or alternative financing to come through by then.

Veritec is still in the development stage of producing anti-counterfeiting technology, including computer-generated labels, to distinguish genuine products from fakes. The stamps could be placed on products ranging from lottery tickets to automobile transmissions.

Veritec went public in January, 1986, selling 2.5 million shares at $1 a share. On Monday, its stock closed at a bid price of 44 cents. During the six months ended Dec. 31, Veritec lost $473,555, or 62 cents a share, on no sales.

The NASD is a Washington, D.C.-based nonprofit group that tries to standardize trading practices and operates under the supervision of the Securities and Exchange Commission. Members include nearly all brokerage houses and firms dealing in the over-the-counter market.

Since its inception, Veritec has been listed with NASDAQ.