Lantronix, Inc. (NASDAQ: LTRX), a provider of secure, remote device networking and data center management technologies, recently today announced that its one-for-six reverse stock split was completed effective the close of business on December 18, 2009. Trading of Lantronix, Inc. common stock on The NASDAQ Capital Market will begin on a split-adjusted basis at the open of trading on December 21, 2009.
Free Hot Penny Stocks, an online financial publication, provides investors timely stock market alerts. Free hot penny stocks profiles stock picks that could generate higher returns than average. These penny stocks include stocks with news, chart breakouts or increased volume.
Sign Up Today for our Penny Stock Newsletter
On November 18, 2009, the Company's stockholders approved a proposal to authorize the Company's Board of Directors to implement, at its discretion, a reverse stock split of the Company's outstanding shares of common stock within a range of one-third to one-sixth of a share for each outstanding share of common stock and to file an Amendment to the Company's Certificate of Incorporation to effect such a reverse stock split. The Board has authorized a one-for-six reverse stock split of the Company's common stock and on December 18, 2009, the Company filed the Certificate of Amendment. The reverse stock split is intended to enable the per share trading price of the Company's common stock to satisfy the minimum bid price requirement for continued listing set forth in NASDAQ Listing Rule 5550(a)(2) (the "Rule"). As previously reported, on October 8, 2009, the Company was notified by the NASDAQ Staff that the Company had not regained compliance with the Rule. As a result, the Company requested a hearing and appeared before a NASDAQ Listing Qualifications Panel where it presented its plan of compliance. Subsequent to the hearing, the Panel granted the Company's request for continued listing, subject to the condition that, on or before January 8, 2010, the Company's stock price must have a closing bid price of $1.00 or more for a minimum of ten prior consecutive trading days.
Sign Up for Free Hot Penny Stocks’ FREE Penny Stock Newsletter.
About Us
Free Hot Penny Stocks is a financial website and independent electronic publication that provides information and free penny stock alerts on selected publicly traded companies. We also track small cap companies and other stocks that may be positioned to break out. These penny stocks might have news, increased volume or chart breakouts. These penny stocks that are alerted could generate greater than average returns. Feel free to visit our penny stock forum to discuss other penny stock picks or penny stocks that you might own.
Free Hot Penny Stocks is not a registered investment advisor or broker-dealer. Please do your own Due Diligence before investing in any of the stocks mentioned above. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer
