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Management plans to buy additional stock shares
GREEN TREE -- Allin Corp. is conducting a special shareholders meeting next month, the results of which management hopes will ward off a delisting of its stock.
Allin currently trades on the Nasdaq National Market. If it does not continue to meet certain financial requirements, it could be delisted and would have to reapply to begin trading on Nasdaq's SmallCap Market.
Allin, which conducts a variety of technology services including making businesses e-commerce capable and supplying interactive TVs to serve crusie ship passengers, has been trading below $2 a share since Nov. 1. On Nov. 27, the stock price hit a 52-week low of $1.71. The stock still meets the $1 minimum trading requirement for the National Market.
What Allin is missing is the $4. million net tangible asset requirement As of Sept. 30, Allin had $3.1 million in net tangible assets. Net tangible assets means total assets, excluding goodwill, minus total liabilities. To boost the …