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BTI delisted from NASDAQ exchange
The stock of magnetic source imaging developer Biomagnetic Technologieshas been taken off the NASDAQ stock exchange effective March 10.The company was found in violation of NASDAQ's listing criteria,which requires firms to have a minimum of $4 million in
The stock of magnetic source imaging developer Biomagnetic Technologieshas been taken off the NASDAQ stock exchange effective March 10.The company was found in violation of NASDAQ's listing criteria,which requires firms to have a minimum of $4 million in net tangibleassets. The company said that its common stock will now be tradedin the over-the-counter market.
San Diego-based BTI has suffered from shipping delays of its Magnes2500 WH system, and restructured in December to conserve cashuntil revenue from Magnes shipments begins to come in (SCAN 2/5/97).For the first quarter of 1997, the vendor reported a $2.1 millionnet loss on revenues of $317,000.