NASDAQ to Drop IPS Quotes: IPS Health...
NASDAQ to Drop IPS Quotes: IPS Health Care Inc., buffeted by financial hard times and huge losses on Wall Street, said Monday that the NASDAQ market will no longer be quoting the company’s stock prices.
“The company is unlikely to be able to comply with the minimum capital and surplus maintenance requirements for NASDAQ,” the Irvine-based company said in a prepared statement released Monday afternoon. “As a result, its common stock and warrants will continue not to be quoted on NASDAQ.”
The company, which provides magnetic resonance imaging services to physicians, was once highly regarded on Wall Street. But in the past 19 months, its stock has lost 90% of its value after the company lost $5 million for its 1991-1992 fiscal year, which ended in April.
The bid price for IPS shares as of Dec. 10 was $1.625. Its asking price was $1.875 a share.
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