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BioFuel gets Nasdaq listing notice, -17.5% AH

  • BioFuel Energy (BIOF) -17.5% AH after disclosing in an 8-K filing that its shares are in danger of being delisted from the Nasdaq exchange.
  • BIOF says in the filing it received a letter from Nasdaq's listing qualifications staff calling the company a "public shell," and that buyers of its stock can't know definitively what the operating business of the company will be in the future.
  • The letter says BIOF shares will be suspended and removed from the exchange unless BIOF requests an appeal, which the company says it will do.
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Comments (2)
  • ep780
    , contributor
    Comments (2) | Send Message
     
    The Company will present to the Panel its plan to cease to be a shell company as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended, which may include the consummation of one or more strategic transactions currently being evaluated by a special committee of the Company's Board of Directors.
    12 May 2014, 06:30 PM Reply Like
  • Special Situations Monitor
    , contributor
    Comments (136) | Send Message
     
    Thanks for pointing out the only relevant and useful portion of the 8k.
    12 May 2014, 06:40 PM Reply Like
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