General Automation to Return to NASDAQ
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General Automation Inc. of Anaheim said its stock will resume trading on the NASDAQ over-the-counter market beginning Friday.
The business computer manufacturer, which has been struggling to reverse years of continuing losses, was delisted by NASDAQ in late April because its shareholders’ equity fell below the minimum requirements of the securities dealers association.
However, under a refinancing package announced last week, the company reduced its debt by nearly $14 million and significantly improved its shareholder equity position from a $6-million deficit to $5.6 million.
During the period the stock was dropped from NASDAQ, General Automation shares were traded in the over-the-counter market through market makers.
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