IPXL- Me Take Large Leap Of Faith.

What do shareholders get if a stock is delisted? The only experience I have is with RSTN. As part of a settlement with the SEC, they voluntarily delisted. I sold all I owned as soon as that was announced. An employee at the company said that the company paid its employee shareholders fair market value for their holdings, but I don't know what happened to regular shareholders who held until it was delisted.
 
I had experience with Loral Space and let me assure you investors got zippo despite all the assets. Bernard Schwartz I believe his name, CEO who made that merger with Globalstar and the whole house of cards came down. Took that one from $20 to zero ahhhh the memories.... I've gotten a few of those class action lawsuit deals in the mail but I never return those....
 
Well we got the big news a few days ago and Stoney missed it!>
IMPAX Files Revised Submission with Office of the Chief Accountant of the SEC
- BusinessWire

HAYWARD, Calif., Feb 02, 2007 (BUSINESS WIRE) -- IMPAX Laboratories, Inc. today announced that the Company has filed a revised submission with the Office of the Chief Accountant (OCA) of the Securities and Exchange Commission (SEC), seeking the OCA's concurrence in its proposed revised revenue-recognition policy relating to transactions under the Company's Strategic Alliance Agreement with an affiliate of Teva Pharmaceutical Industries, Ltd. (Teva).

The submission is the culmination of an analysis of the appropriate accounting under the agreement with Teva that has taken nearly two years to complete. The content of the submission will remain confidential until the Company receives a response from the OCA. The proposed new methodology will not have an impact on the Company's cash position or liquidity.

Arthur A. Koch, senior vice president and chief financial officer, said, "This submission is a critical step for IMPAX Laboratories towards completion of the audits of its 2004, 2005 and 2006 financial statements and bringing its SEC filings current. We estimate that we will achieve this within eight to 12 weeks after a favorable determination by the OCA."

The stock ran to $10.70 and has pulled in to $10.50.
Now the countdown begins... will IPXL get re listed?
Will the stock soar to $14? Will the accounting method get the thumbs down from the SEC and will the whole investing thesis in this name go out the window along with my retirement?
 
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