OTC Stock Proposal Revised: The National Assn....
From Times Staff and Wire Reports
OTC Stock Proposal Revised: The National Assn. of Securities Dealers, bowing to pressure from many small companies, amended its proposed maintenance standards for listings of stocks on the NASDAQ over-the-counter market. NASD no longer proposes to delist issues that fall below $1 a share. Instead, an under-$1 stock may continue to be listed if the market value of public stock is at least $1 million and the company has $2 million in equity. The earliest the changes could take effect would be next July 1.
