Fonix Corp. was back in action on the NASDAQ Stock Market Friday morning, one week after market officials halted trading of the Draper-based technology company's stock.
Fonix said Friday NASDAQ halted trading because it wanted information about financial statements dating back to the end of 1997, including amended forms that were filed three days before Fonix share trading was suspended.NASDAQ spokesman Mike Shokouhi said Friday that Fonix "answered what we had asked them to provide us." Trading resumed at 10 a.m.
Shokouhi said NASDAQ orders this type of trading halt, called a T-12, at the rate of about two each week. NASDAQ currently has trading suspended on 11 listed companies.
"It is not rare but isn't common either, given we have about 5,000 companies," he said.
Fonix shares last traded at 1 1/32 when the halt was announced March 19. Fonix opened down Friday at 7/8.