Share price of First Place Financial corrected to read $3.25 as of Feb. 28BOSTON ( TheStreet) -- Small-cap stocks, measured by the Russell 2000 Index, rose more than 5% last month, attracting investors to growth companies on hopes of outsized profits as the economy rebounds. Still, many carry risks rarely present at larger peers, including the inability to remain compliant with listing standards of the Nasdaq and New York Stock Exchange. February was a winning month for the stock market, with the S&P 500, Nasdaq and Dow Jones Industrial Average each rising roughly 3% despite geopolitical waves over protests in the Middle East.
LiveDeal ( LIVE) Company Profile: LiveDeal provides local customer acquisition services for small businesses. LiveDeal was the first company to bring the print yellow pages to the Internet in 1994. Current Share Price: $4.90 (Feb. 28) Listing Violation: Public float. The listing rule requires that a company have at least 500,000 publicly held shares for continued listing. Currently, LiveDeal has a public float of about 376,000 shares. Received Nasdaq Notice: Feb. 2 Management's Expected Action: LiveDeal has until March 19 to provide the Nasdaq staff with a specific plan to achieve and sustain compliance with all listings requirements, including a time frame for the completion of the plan. While LiveDeal says it has not made any final decisions regarding what actions to take, the company noted that potential compliance strategies it is considering include a forward stock split, which would increase the number of shares held, or the issuance of additional shares of common stock.
Rosetta Genomics ( ROSG) Company Profile: Rosetta Genomics develops and commercializes new diagnostic tests based on microRNAs, which the company says play an important role in normal function and in various pathologies. Current Share Price: 55 cents (Feb. 28) Listing Violation: Bid price. The listing rule requires that a company maintains a minimum closing bid price of $1 per share for its common stock. Rosetta Genomics shares last closed above $1 on Dec. 22. The company was hit in December with a separate delisting warning related to market value, equity and net income. Received Nasdaq Notice: Feb. 7 Management's Expected Action: Rosetta Genomics has until Aug. 8 to regain compliance with the minimum bid price requirement. While the company did not offer any indication of what it may do to regain compliance with the rule, Rosetta Genomics did note that the Nasdaq provided the company with an extension of a deadline to meet the market value, equity and net income requirement. The company must achieve certain milestones toward regaining compliance by Feb. 28 and April 29.
Empire Resorts ( NYNY) Company Profile: Empire Resorts owns Monticello Gaming and Raceway, a video gaming machine and harness horseracing facility located in Monticello, New York. Current Share Price: 78 cents (Feb. 28) Listing Violation: Bid price. The listing rule requires that a company maintains a minimum closing bid price of $1 per share for its common stock. Empire Resorts shares last closed above $1 on Dec. 31. Received Nasdaq Notice: Feb. 14 Management's Expected Action: Empire Resorts has until Aug. 15 to regain compliance with the minimum bid price requirement. The company said it is considering actions that it may take to regain compliance with the continued listing requirements, but no decisions about a response have been made yet.
First Place Financial ( FPFC) Company Profile: First Place Financia lis the holding company of First Place Bank, based in Warren, Ohio. Current Share Price: $3.25 (Feb. 28) Listing Violation: Delinquency. First Place Financial failed to file its annual 10-Q report with the SEC in a timely manner. In November, First Place Financial was slapped with a separate delisting warning for failing to filing its 10-K for the quarter ended Sept. 30 in a timely manner. Received Nasdaq Notice: Feb. 17 Management's Expected Action: First Place Financial has previously disclosed that it needs additional time to file its 10-Q as it deals with the Office of Thrift Supervision, which found issues with the bank's allowance for loan losses. First Place Financial has engaged an independent firm to conduct a detailed review of the bank's loan portfolio. The company has already said it intends to amend its annual report for the fiscal year ended June 30, as well as the company's quarterly filings for September and December 2010. Already, First Place Financial has submitted to the Nasdaq a plan to regain compliance. However, due to the delayed filing of the quarterly report for the period ending Dec. 31, First Place Financial is required to update the plan by March 4. The company said it will request that the Nasdaq allow the company until May 16 to regain compliance with all delinquent filings.