Thursday, November 21, 2002

Approaching the Vanishing Point
The PR News Wire is carrying Salon to Trade on OTC Market Beginning Thursday, Nov. 21, 2002:
Salon Media Group, Inc. announced today that NASDAQ has provided it notice that it will be moved from the SmallCap Market, where it currently trades, to the over-the-counter (OTC) market effective Nov. 21, 2002. The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices and volume information for approximately 3,700 companies.

"While we valued the prestige of a NASDAQ listing, this move to the OTC market should not affect our core business. Our focus has been and will continue to be on the fundamentals -- growing our business by subscription revenues and delivering compelling advertising solutions for our customers," said Michael O'Donnell, Salon's president and chief executive officer.
Nice to know what they claim their core business is. I always thought it was propagation of DNC talking points plus related cultural absurdities.

Salon has also provided a FAQ on this:
Why was Salon delisted from Nasdaq?

Nasdaq has continued listing standards. To remain on the market, Salon had to show compliance with the $1 million market value of publicly held shares requirement on November 11, 2002 and with the minimum bid price of $1.00 per share requirement in February 2003. Nasdaq determined that the company was not in compliance with the $1 million market value of publicly held shares requirement on November 11, 2002 and the company was delisted.
See ya 'round the quad.