Article: Potential Nasdaq Delisting of Galaxy Foods.

ORLANDO, Fla.--(BUSINESS WIRE)--Sept. 11, 1998--Galaxy Foods Co. (NASDAQ:GALX) Friday reported the company has been notified by Nasdaq of a potential delisting from their Small Cap Market.

During 1997, Nasdaq issued new criteria for their SmallCap Market. These criteria included requirements for net tangible assets, public float, number of shareholders and minimum bid price. As of Sept. 11, 1998, the date on which the proposed delisting was to occur, Galaxy Foods far exceeds each new requirement, with the exception of maintaining a minimum bid price of $1.00. On Sept. 11, 1998, the company requested a hearing to appeal the proposed delisting. The company ...

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