Wednesday, September 17, 2014

NASDAQ to KiOR: See ya

NASDAQ notified KiOR it will delist the company stock on September 23.  The company reported in an SEC filing:

On September 12, 2014, KiOR, Inc. (the "Company") received a notification of deficiency from the Listing Qualifications Department of The NASDAQ Stock Market LLC ("NASDAQ") based on the Company's failure to pay certain fees required by Listing Rule 5250(f). NASDAQ has informed the Company that as a result of this deficiency, the Company will be delisted unless the Company appeals NASDAQ's decision. In light of the prior NASDAQ notices described in further detail below, the Company has determined not to appeal NASDAQ's decision and, as such, the trading of its common stock will be suspended at the opening of business on September 23, 2014 and NASDAQ will file a Form 25-NSE with the Securities and Exchange Commission (the "Commission"), which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.

As discussed in the Company's Current Report on Form 8-K filed with the Commission on May 6, 2014, NASDAQ informed the Company that it would be subject to delisting upon a failure to regain compliance with (i) the minimum bid price requirement of $1.00 per share, as set forth in NASDAQ Listing Rule 5450(a)(1),  (ii) the minimum market value of listed securities ("MVLS") of $50 million, as set forth in NASDAQ Listing Rule 5450(b)(2)(A) and (iii) the minimum market value of publicly held shares ("MVPHS") of $15 million, as set forth in NASDAQ Listing Rule 5450(b)(2)(C).

The Company does not believe that it will be able to regain compliance with the NASDAQ Listing Rules discussed above prior to the end of the applicable grace periods, which were October 27, 2014 for the minimum bid price and MVLS requirements and November 3, 2014 for the MVPHS requirement. As a result, the Company believes that it would have become subject to delisting for failure to comply with the Listing Rules above, even if it had paid the listing fees in compliance with Nasdaq Listing Rule 5250(f).

KiOR's current share price is $0.17.  The market cap is $18.92 million.

Kingfish note: Do we even need to mention the $75 million? What is MDA to do? 

4 comments:

Anonymous said...

Kingfish note: Do we even need to mention the $75 million? What is MDA to do?

Just like Friday poker with friends.

That losing streak just means you time to win is getting closer. Losses aren't so much losses when it's your friends that are winning!

Just like when your stock market portfolio is down, that's when your broker will recommend dialing up the risk and trading to get back to even.

The easiest way for the MDA to get this KIOR $75 million back is to take it from the taxpayers again. The first $75 million is gone.

Johnny Weir said...

In another flub by our elected officials add 28 million for legal fees to Ronnie Musgrove.
This is over a lawsuit asking a chancery judge to define the meaning of the word “shall”.

Anonymous said...

I guess that dead cat finished bouncing.

Anonymous said...

Has anyone ever looked to see if Haley "pardon me" Barbour ever had any shares in the company? Was he or his firm ever paid to represent them? Hmmmmm?


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Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


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Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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