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wiredInUSA - March 2013
wiredInUSA - March 2013
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Superconductor Technologies Inc has revealed its
intention to have a reverse stock split in March,
according to a filing with the US Securities and
Exchange Commission.
The company has said that the proposed reverse
split is due to its stock price being well below the
minimum level set for stocks listed on the NASDAQ
capital market exchange. Superconductor
Technologies could do a reverse split in the range
of one-for-two shares outstanding and not greater
than one-for-12 shares. It presently has 55.5 million
shares outstanding.
Company officials said: “We believe the low
market pace of our common stock has reduced
theeffectivemarketabilityof those shares because
of the reluctance of many leading brokerage firms
to recommend low-priced stocks.”
The company develops superconducting wire for
use in power transmission lines and in wind power
generators, but has lost money in recent years.
For the nine months ended September 2012, it lost
$8.7million on revenue of $2.2million.
new staff
at pelican
Althoughnewto thewireandcable industry,
Sander Steele has over twenty years of
sales experience and is busy learning about
Pelican Wire’s manufacturing processes
and thermocouple cable applications.
Steele said: “Pelican Wire is a great
company, and their custom engineering is
really impressive.”
Ted Bill, president of Pelican Wire,
commented on the sales team’s newest
representative: “Sander impressed me
during his first few weeks on the job.”
Nancy Sarafian, who has joined Pelican
Wire as sales manager, has over 30 years of
sales management experience in the cable
industry. Sarafian said that learning more
about the resistance heating applications
of Pelican Wire and the specialization in
fine wire diameters has broadened her
knowledge of wire and cable.
Pelican Wire, an employee-owned
company specializing
in resistance wire, thermocouple
and RTD wire, has new sales
personnel.
INDEXReversE
stock split
proposal
Ted Bill, president of Pelican Wire