NASDAQ MIGHT DELIST YOUBET.Byline: Evan Pondel Staff Writer WOODLAND HILLS - Youbet.com, an online horse racing horse racing, trials of speed involving two or more horses. It includes races among harnessed horses with one of two particular gaits, among saddled Thoroughbreds (or, less frequently, quarterhorses) on a flat track, or among saddled horses over a turf course with site, has 10 days to quicken A popular financial management program for PCs and Macs from Intuit, Inc., Mountain View, CA (www.intuit.com). It is used to write checks, organize investments and produce a variety of reports for personal finance and small business. its pace before Nasdaq seeks 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. the company because the stock has been trading below $1 since January. The Woodland Hills-based company must demonstrate its ability to trade at at least $1 per share for 10 consecutive days prior to May 21. At Thursday's close, Youbet declined 3 cents, or 3.9 percent, to 74 cents. The company's recent introduction of Youbet Express, which enables visitors to wager without downloading software, was created in an effort to garner more subscribers. However, analysts say the company has many laps to make up before its cash flow turns positive. ``Operations and subscriber growth hasn't been up to expectations,'' said Luis Martins The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. Season Pos. Pl. , a senior analyst with Taglich Brothers in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . ``The company had projected very large subscriber growth of 100,000 to 200,000 by the end of the fiscal year.'' Yet, the company's barely maintaining a trot's pace with a subscriber base of 15,600 as of Dec. 31, and still needs an additional 15,000 to break cash flow into positive ground, Martins said. ``It's now a race against time between subscriber growth and their balance sheet,'' he said. The firm issued the following statement in response to several phone calls: ``The company continues to execute its business plan. We don't comment on the stock price and we are not in control of the market.'' In March, the company posted a net loss for the fourth quarter of $6 million, or 31 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with a net loss of $10.8 million, or 64 cents per share, for the same period a year ago. Though Nasdaq was unable to comment on Youbet's current situation, Wayne Lee, a spokesman for the exchange, said if a stock doesn't trade above its minimum bid price for 10 consecutive days in a 90-day period, several hearings and an analysis about the concern will ensue en·sue intr.v. en·sued, en·su·ing, en·sues 1. To follow as a consequence or result. See Synonyms at follow. 2. To take place subsequently. . When Nasdaq decides to delist a company, shareholders don't automatically lose value on their investments. The shares may be traded on the over-the-counter bulletin board or ``in the pinks,'' said John Nester nest·er n. 1. One, such as a bird, that nests. 2. Western U.S. A squatter, homesteader, or farmer who settles in cattle-grazing territory. Noun 1. , a spokesman for the Securities Exchange Commission. The pinks, or The Pink Sheets, is a quotation service in which companies do not have to register with the SEC. ``But when a company is trading in the pinks, commissions are significantly higher because of all the paperwork,'' Nester said. So far, there have been 147 Nasdaq delistings in 2001, while there were 240 delistings in 2000. Despite the looming possibility of Youbet's 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. , Martins said the company's shareholders will likely continue to own the stock. ``I don't think there will be a mass exodus,'' he said. ``At this point the shareholders that are with the company are prepared.'' |
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