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Follow us on FacebookTransmeta slumps on liquidity warning
@ 2005/04/12CHIP FIRM Transmeta's share price fell to 76 cents yesterday after it complied with Nasdaq rules and issued a "going concern" warning, a drop of over 15 per cent.
That's after it filed a form with the Securities and Equities Commission (SEC) at the end of March which included a warning from auditors.
But Transmeta said in a statement that although it was required to file the statement according to the rules of the Nasdaq exchange, it does not alter the plans it formally announced on the 31st of March, which included a re-structuring plan.
This is all a far cry from the days when it launched on Nasdaq. At that time its shares topped the $45 mark.
That's after it filed a form with the Securities and Equities Commission (SEC) at the end of March which included a warning from auditors.
But Transmeta said in a statement that although it was required to file the statement according to the rules of the Nasdaq exchange, it does not alter the plans it formally announced on the 31st of March, which included a re-structuring plan.
This is all a far cry from the days when it launched on Nasdaq. At that time its shares topped the $45 mark.
