Net?s delicate situation on Nasdaq reminds some analysts of what happened to TV Filme, which once traded in New York and was delisted. Hermano Lins de Albuquerque, president of ITSA, the holding company for Mais TV (ex-TV Filme), says the problem then, as now, was adverse market conditions. TV Filme was unable to comply with Nasdaq?s minimum price and liquidity requirements, he recalls. In his view, trading in the public equity market offers no advantages under present circumstances. "The volume of funds simply isn?t there to justify the cost of trading on Nasdaq," he says. TV Filme would have gone private after delisting on Nasdaq but lacked the funds to buy back all its shares. It plans to do so as soon as possible, he says, adding that Nasdaq was ?very generous? to emerging-market issuers and that the capital raised via New York financed TV Filme?s expansion in the late 1990s. The strategy won?t be repeated, he concludes.