SCSS » Topics » NASDAQ Listing Requirements . Failure to satisfy NASDAQ Global Select Market listing requirements may result in our common stock being removed from listing on the NASDAQ Global Select Market.

These excerpts taken from the SCSS 10-K filed Mar 19, 2009.

NASDAQ Listing Requirements. Failure to satisfy NASDAQ Global Select Market listing requirements may result in our common stock being removed from listing on the NASDAQ Global Select Market.

Our common stock is currently listed on the NASDAQ Global Select Market under the symbol “SCSS.” For continued inclusion on the NASDAQ Global Select Market, we must generally maintain, among other requirements, either (a) shareholders’ equity of at least $10 million, a minimum closing bid price of $1.00 per share and a market value of our public float of at least $5 million; or (b) market capitalization of at least $50 million, a minimum closing bid price of $1.00 per share and a market value of our public float of at least $15 million. We currently do not meet these minimum closing bid price and market capitalization requirements. NASDAQ has recently suspended enforcement, through April 20, 2009, of the rules requiring a minimum closing bid price and a minimum market value of public float. After April 20, 2009, however, if we fail to meet the minimum closing bid price or the minimum market value standards described above for at least 30 consecutive trading days, our common stock could be at risk of being removed from listing on the NASDAQ Global Select Market. If our common stock were removed from listing on the NASDAQ Global Select Market, our common stock may be transferred to the NASDAQ Capital Market if we satisfy the listing criteria for the NASDAQ Capital Market, or trading of our common stock may be conducted in the over-the-counter market in the so-called “pink sheets” or, if available, the National Association of Securities Dealer’s “Electronic Bulletin Board.” Consequently, broker-dealers may be less willing or able to sell and/or make a market in our common stock, which may make it more difficult for shareholders to dispose of, or to obtain accurate quotations for the price of, our common stock. Removal of our common stock from listing on the NASDAQ Global Select Market may also make it more difficult for us to raise capital through the sale of our securities.

NASDAQ Listing Requirements.
Failure to satisfy NASDAQ Global Select Market listing requirements may result
in our common stock being removed from listing on the NASDAQ Global Select
Market.



Our common
stock is currently listed on the NASDAQ Global Select Market under the symbol
“SCSS.” For continued inclusion on the NASDAQ Global Select Market, we must
generally maintain, among other requirements, either (a) shareholders’ equity
of at least $10 million, a minimum closing bid price of $1.00 per share and a
market value of our public float of at least $5 million; or (b) market
capitalization of at least $50 million, a minimum closing bid price of $1.00
per share and a market value of our public float of at least $15 million. We
currently do not meet these minimum closing bid price and market capitalization
requirements. NASDAQ has recently suspended enforcement, through April 20,
2009, of the rules requiring a minimum closing bid price and a minimum market
value of public float. After April 20, 2009, however, if we fail to meet the
minimum closing bid price or the minimum market value standards described above
for at least 30 consecutive trading days, our common stock could be at risk of
being removed from listing on the NASDAQ Global Select Market. If our common
stock were removed from listing on the NASDAQ Global Select Market, our common
stock may be transferred to the NASDAQ Capital Market if we satisfy the listing
criteria for the NASDAQ Capital Market, or trading of our common stock may be
conducted in the over-the-counter market in the so-called “pink sheets” or, if
available, the National Association of Securities Dealer’s “Electronic Bulletin
Board.” Consequently, broker-dealers may be less willing or able to sell and/or
make a market in our common stock, which may make it more difficult for
shareholders to dispose of, or to obtain accurate quotations for the price of,
our common stock. Removal of our common stock from listing on the NASDAQ Global
Select Market may also make it more difficult for us to raise capital through
the sale of our securities.



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 19, 2009
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