Press Releases
Superconductive Components, Inc.
Announces
Plan
for Compliance with NASD Eligibility Rule
CONTACT:
J.R. Gaines, Jr.
Vice President
(614) 486-0261
COLUMBUS, Ohio -- March 28, 2000 -- Dr. Edward R. Funk, President of Superconductive Components, Inc. (OTC Bulletin Board: SCCI) (SCCIE) confirmed today that the Company's common stock will become temporarily ineligible for quotation on the OTC Bulletin Board in early April. He also confirmed that trading will continue on the Pink Sheet system.
The Company's common stock will be "de-listed" because the Company did not satisfy the NASD's new eligibility rule within the prescribed time period. In order for the Company to be quoted on the OTC Bulletin Board, the NASD's eligibility rule requires the Company register and become a reporting company with the securities and exchange commission. Prior to the adoption of the NASD's eligibility rule, the Company was not required to be an SEC reporting company.
The Company intends to make the necessary filing with the SEC as soon as its year end audit is complete. The Company will again be eligible for trading on the OTC Bulletin Board once the SEC completes its review of the Company's filing. Because of the volume of these filings being reviewed by the SEC, it is difficult to predict how long the SEC's review and comment period will last.
Dr. Funk stated that, between the time the Company's common stock is removed from the OTC Bulletin Board and the completion of the SEC review, the Company's stock can be traded in the Pink Sheet system and real time stock quotes can be obtained from the National Quotation Bureau's new Electronic Quotation Service. While interested parties will not be able to obtain trading information directly from the Internet, they should be able to get that information from their broker or by applying for the Electronic Quoting Service. One broker that will provide this information is Wien Securities, 614-538-2626 in Columbus, Ohio.
Superconductive Components, Inc., headquartered in Columbus, Ohio, manufactures superconductors for wire used in magnets and cables, sensors for biomedical applications, and circuitry for computing, wireless and other applications. Its wholly owned division, Target Materials, Inc., manufactures thin film materials for photovoltaics, flat panel displays, electronic switches, hardness and decorative coatings. The company sells its products in the US and over 40 foreign countries. For additional information contact J.R. Gaines, Jr., Vice President, at 614-486-0261, URL www.superconductivecomp.com
###
|
