Low price listing.Scope Industries, which operates 13 plants that recycle dried bakery goods into feed for dogs and chickens, is fed up with the costs associated with being public. Last month, the company filed a deregistration deregistration removal of right to practice by local registering body, usually as a disciplinary measure because of professional misconduct, possibly because of inability to perform because of psychiatric problem. statement with the Securities and Exchange Commission to delist delist To drop a security from trading on an organized exchange. Delisting may occur for a number of reasons including failure to meet an exchange's standards or placement of a new listing on another exchange. Compare list. from the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . Instead, it plans to trade on the pink sheets, the online electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. system where mostly small cap stocks trade but listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. aren't as stringent. With a stock that traded for $75 a share on April 14, Scope will be somewhat of an anomaly on the pink sheets, which are home to lower-priced issues. The stock does trade infrequently in·fre·quent adj. 1. Not occurring regularly; occasional or rare: an infrequent guest. 2. , a pink-sheet characteristic. "It was purely an economic decision," Meyer Laskin, the company's 77-year-old chairman and chief executive, said of the reason for 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. . "The costs of being listed are going to increase so much with Sarbanes-Oxley and we barely average 100 shares a day--I wouldn't call that a market." The company has just 70 stockholders of record and insiders control 70 percent of its stock. In the fourth quarter ended Dec. 31, Scope reported net income of $1 million, compared with $1.4 million for the like year-earlier period. Fourth quarter revenues were $20. I million versus $21.1 million in the same period a year earlier. Scope long has been considered an odd company because it recycled bakery products and operated a chain of beauty schools called Marinello Schools of Beauty. The company sold its beauty school division last month to B&H Education for roughly $8.2 million. "Our principal business is waste recycling," Laskin said. "We thought we should put our emphasis there." Luskin said the company has been performing well of late because of rising corn prices. The company's dried bakery products often are purchased as alternative feed supplements for animals and closely track the corn commodities market. |
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