Eastman Kodak Company (NYSE: EK) was recently named by us as a stock which is one of thirteen stocks unlikely to survive 2012 in its current form.  A very low share price, a board in disarray and full of departures, more bankruptcy rumors than you can easily count, and a share price of well under $1.00.

Now comes news after the close that the company is facing a potential delisting from the New York Stock Exchange after having received a “continued listing standards notice” from the NYSE because the average closing price of its common stock has remained under $1,00 per share for more than 30 consecutive trading days.

Eastman Kodak noted that it has six months after the receipt of this notification to regain compliance with the minimum share price requirement, assuming that no other listing standards arise and remain.  It regains compliance if the closing share price of at least $1.00 on the last trading day of any calendar month during the period and also has an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period.

All that has to happen is for Kodak to see a 50% gain in its share price from the $0.65 close.  With Antonio Perez’ great track record it is not major feat to question whether or not he will be able to easily accomplish that.  Perez may elect for a reverse stock split, but he should be reminded that reverse splits at troubled companies generally only allow short sellers to short sell more shares betting against a company.

JON C. OGG

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