Nasdaq Warns ROSS

Electronic News, May 25, 1998

The designer of Sparc-architecture microprocessors and supplier of Sparc-based computer hardware that is compatible with Sun Microsystems equipment is 60 percent owned by Fujitsu Ltd. of Japan, with employees and public investors holding 35 percent of the company and Sun owning 5 percent. Investors in ROSS' stock, traded on the Nasdaq National Market, reacted to the news by dropping the price by 1/16, to 7/32 (or about $0.22).

Nasdaq may delist the company's common stock because the closing bid price for the company's common stock has been less than $1.00 per share for the last 30 consecutive trading days. ROSS has until Aug. 13, 1998, to show why its stock should not be delisted; if the stock fails to trade at above $1 a share, or if the market value of the stock's public float is not at least $5 million for 10 consecutive trading days, Nasdaq will delist the stock from its National Market on Aug. 17, 1998. ROSS stated it "has not determined what steps, if any, it will take in order to meet requirements for continued listing on Nasdaq." Given that the company's very survival is now at stake, ROSS likely has more pressing matters.