New Market Technology, Inc., a leader in providing system integration, technology infrastructure services and emerging technology worldwide, issued a press release today to announce that on March 18th it was listed on the Regulation SHO “security threshold” list.
A “threshold security”, as defined in Rule 203(c)(6) of Regulation SHO, is “any equity security of any issuer that is registered under Section 12 of the Exchange Act, or that is required to file reports under Section 15(d) of the Exchange Act (commonly referred to as reporting securities), where, for five consecutive settlement days:
• There are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security;
• The level of fails is equal to at least one-half of one percent of the issuer’s total shares outstanding; and
• The security is included on a list published by a self-regulatory organization (SRO).”
A security will be removed from this list if it does not meet these requirements for five consecutive trading days.
Even though NWMT is listed on the pink sheets, it is still a reporting company with audited financials filed with the Security and Exchange Commission. New Market Technology management believes that the company’s inclusion in the list will result in a “buy-in” that will drive the share price higher.