Boca's Devcon International Corp. to stop listing stock on Nasdaq
- Original South Florida Sun-Sentinel article: Boca's Devcon International Corp. to stop listing stock on Nasdaq
Boca Raton-based Devcon International Corp., which specializes in electronic security for homes and businesses, said Monday it expects to stop listing its stock on the Nasdaq exchange May 16 after notification it does not comply with requirements for $10 million in shareholder's equity. Instead, it will pursue a spot on the Over The Counter Bulletin Board, which requirements are less strict.
The announcement comes as management reported a net loss of $5.9 million for the quarter ended March 31A-, down from a $6.8 million loss in the same quarter year earlier. The net loss to common shareholders was $7.1 million, down from $8.2 million a year earlier.
Revenues for the quarter slipped to $13.7 million from $14.1 million in the year earlier period, the company said.
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