Nu-Med Again Qualifies for Listing on NASDAQ
Nu-Med Inc., an Encino operator of hospitals and other health-care facilities, said it has been notified by the National Assn. of Securities Dealers that the company now meets the requirements for inclusion on the NASDAQ over-the-counter market index.
In October the NASD told Nu-Med that it had fallen below the minimum net tangible worth requirement for inclusion in the index. But the NASD continued to list the stock with a notation that it was temporarily exempt from NASDAQ listing qualifications.
Nu-Med had been struggling to make debt payments and raise cash but reported a $28.3-million profit for its fourth quarter ended April 30, in part because it sold three hospitals.
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