RE:When do we know about delisting?"We were given 120 days from June 5, so I make that Oct 3 2015.
Do we hear something yeah or nay? Or does it just happen on that day and we get shunted to the Venture exchange?"
It is akin to an eviction notice from an apartment building. Once you receive notice that you are to be evicted, you have 30 days to find a new residence.
I am assuming in IDC's case that they would already have this prearranged and not need to utilize those 30 days.
How ever this turns out, IDC should be putting out a press release on the 5th or 6th of Oct. to state whether they made the continued listing requirements or not, and if not then when and where they will be leaving to. (Most likely the Venture) On June 4, 2015, IDC received notice from the TSX that the TSX is reviewing
the eligibility of IDC’s securities for continued listing on the TSX. The TSX
publicly announced this review by way of news release on June 5, 2015.
Specifically, the TSX has advised that it is reviewing the Corporation with
respect to the TSX’s continued listing criteria in the following areas: (i) the
Corporation’s financial condition and/or operating results; (ii) the price of
publicly held listed securities of the Corporation; and (iii) the market value of
publicly held listed securities of theCorporation. Under the TSX’s remedial review
process, IDC has been granted 120 days to comply with the requirements for
continued listing. If the Corporation cannot demonstrate that it meets all TSX
continued listing requirements on or before October 5, 2015, the Corporation’s
securities will be delisted 30 days from such date. We are working with the TSX
and evaluating all available options during this time period, including transitioning
over to the TSX Venture Exchange. There can be no assurance that the
Corporation will be able to achieve compliance with the TSX’s listing requirements
within the required time frame or will secure a strategic alternative. Should the TSX
delist the securities of the Corporation, IDC may qualify for listing on another
Canadian stock exchange. To the extent the shares of the Corporation are delisted,
IDC will continue to be regulated by the Canadian securities authorities.