Astronomy industry news. Two Press Releases by Meade Instruments.
Quote:
Press Release
Source: Meade Instruments Corporation
Meade Instruments Receives Nasdaq Deficiency Notice Related to Minimum Bid Price Rule
Tuesday August 12, 4:01 pm ET
IRVINE, Calif., Aug. 12, 2008 (PRIME NEWSWIRE) -- Meade Instruments Corp. (NasdaqGM:MEAD - News), a leading designer and manufacturer of optical products, including telescopes, binoculars and microscopes, today announced that on August 6, 2008, the Company received a letter from The Nasdaq Stock Market stating that for the previous 30 consecutive business days, the bid price of the Company's common stock closed below the minimum $1.00 per share and is no longer in compliance with Marketplace Rule 4450(a)(5) (the ``Minimum Bid Price Rule''). In accordance with Marketplace Rule 4450 (e)(2), the Company will be provided 180 calendar days, or until February 2, 2009, to regain compliance with the Minimum Bid Price Rule.
If at any time before February 2, 2009, the bid price of the Company's stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will notify the Company that it has achieved compliance with the Minimum Bid Price Rule. If the Company does not regain compliance with the Minimum Bid Price Rule by February 2, 2009, Nasdaq will notify the Company that its common stock will be delisted from The Nasdaq Global Market.
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Full press release here -
http://biz.yahoo.com/pz/080812/148511.html
Meade stock is currently trading at around US$0.73 a share.
In another press release today, Meade announced that after 27 years of
continuous production that they would drop their Schmidt-Cassegrain
optics in favour of proprietary optics.
Full press release here -
http://biz.yahoo.com/bw/080812/20080812006334.html?.v=1