BVR Systems, military training and simulation systems developer has received a Nasdaq Staff determination, indicating that the company was not in compliance with the minimum $2.5 million stockholders' equity, the minimum value of listed securities of $3.5 million or the net income from continuing operations of $500,000.
BVRS' expects that its ordinary shares will be eligible to be quoted on the Over the Counter Bulletin Board (OTCBB), under its current symbol, effective at the opening of business on February 14.
Israel’s BVR Systems was established in 1998 as an independent spin-off, is active in advanced defense training and simulation systems. The company is part of the Elisra Group and offers highly efficient, cost effective solutions to the simulation, training and debriefing needs of modern air, sea and ground forces. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
