CSL LIGHTING DELISTED FROM NASDAQ.Byline: Deborah Adamson Daily News Staff Writer CSL (Computerese as a Second Language) Said of people who love to speak high-tech words even though they often use them erroneously. See TLA. 1. CSL - Computer Structure Language. A computer hardware description language, written in BCPL. Lighting Manufacturing Inc. has been delisted from the Nasdaq SmallCap Market this week because it failed to meet the $1 minimum bid price requirement. The maker of lighting products, such as recessed lighting A recessed light or downlight (also pot light in Canadian English, sometimes can light [for canister light] in American English) is a light fixture that is installed into a hollow opening in a ceiling. and surface system lights for clients ranging from home builders to retail customers, is now trading over the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. , which does not have the minimum requirements imposed by Nasdaq and the major stock exchanges. The new ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors is CSLX. The company's 1-to-13 reverse stock split Sept. 3 did not succeed in keeping the stock price above $1. A reverse stock split decreases the number of shares outstanding, thereby raising the price per share. CSL closed at 9.14 cents on Thursday, up 1.56 cents. Company officials were out of the office Thursday and could not be reached for comment. Valencia-based CSL went public in 1994 with 1.6 million shares offered at $5 a share. But the company has suffered from annual losses since then. Last year, it lost $2.94 million (26 cents a share) on sales of $13.16 million. The Asian crisis has further hurt its global business. But in the first half of this year, CSL has refocused its sales effort toward the U.S. market, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. filings with the Securities and Exchange Commission. In October, $2.1 million in loans will be payable. CSL expects to refinance the debt, but there are no guarantees that it will succeed, SEC filings show. A filing earlier this year disclosed that CSL is seeking a ``strategic partnership'' or merger, cutting costs, expanding its markets and product offerings and will raise additional capital as needed as needed prn. See prn order. . But its delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. from Nasdaq will hurt its efforts to raise funds, according to the company's SEC filing. The OTC Bulletin Board is more thinly-traded than Nasdaq, making it more difficult for investors to buy and sell shares of companies listed on it. Also, a number of brokerage firms ``will not recommend purchases of low-priced stocks to clients or make a market in those shares,'' SEC records said. |
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