CSL PLANS REVERSE SPLIT TO KEEP LISTING.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 will initiate a 1-for-13 reverse stock split to meet minimum Nasdaq standards in order to maintain its listing in the over-the-counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. . The maker of lighting fixtures has fallen below the $1 minimum bid price requirement to keep its listing on the Nasdaq SmallCap Market. It closed at 9.375 cents on Wednesday. CSL has 14.5 million shares outstanding. The split will take effect on Aug. 31 - the deadline set by Nasdaq officials to meet requirements - if shareholders approve the split in an Aug. 28 meeting. CSL Chief Executive Mark Allen Mark Allen is the name of:
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. , the electronic portion of pink sheet stocks. These listings don't have the minimum requirements that Nasdaq or any stock exchange imposes. The parent of Nasdaq, the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. , runs the OTC Bulletin Board. But because the reporting requirements are weaker on the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). board, many investors refuse to trade shares on it. Last year, Nasdaq raised the standards for companies to be listed in the National Market and SmallCap Market. The requirements for first-time listings went into effect in August 1997, and February 1998 for existing Nasdaq stocks. Since the higher standards kicked in, more than 350 companies out of Nasdaq's 5,400 stocks have been delisted, Nasdaq officials said. However, the delistings were due to many factors, not just the new requirements, a spokesman said. |
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