Lasertechincs on NASDAQ board again

17 Jun 2002

Lasertechnics has resumed trading under its normal listing symbol (LASX) on the Nasdaq SmallCap Market. From Dec. 20, 1995, to Jan. 8, 1996, the firm's shares were trading under a conditional listing because the company was temporarily out of compliance with Nasdaq equity requirements as of Sept. 30, 1995. On Jan. 2, Lasertechnics filed a Form 8K with the market and the Securities and Exchange Commission showing pro forma stockholders' equity at $2.9 million on Dec. 31.

The needed increase in equity was achieved, the company said, by debenture conversion to common stock, conversion of debt through the exercise of common-stock warrants by its largest stockholder, Wolfensohn Associates, and purchase of convertible preferred stock by Wolfensohn and a related party.