| NYSE-Amex Listing Requirements | ||||
| Requirements | Standard 1 | Standard 2 | Standard 3 | Standard 4 |
| Shareholders' equity | $4 million | $4 million | $4 million | N/A |
| Pre-tax income required in last fiscal year or two of three most recent fiscal years. | $750,000 | N/A | N/A | N/A |
| Market capitalization | N/A | N/A | $50 million | $75 million OR At least $75 million in total assets and $75 million in revenues |
| Distribution | | | | 800 public shareholders and 500,000 shares publicly held OR 400 public shareholders and 1 million shares publicly held OR 400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 month |
| Price | $3 | $3 | $2 | $3 |
| Market value of public float | $3 million | $15 million | $15 million | $20 million |
If I were the F/S for Baltia I might do a buy back of some shares, if we were profitable early. Borrowed money would be easier and the share price now is cheap.
Let's get an understanding of what is going on here. Baltia will become an airline. They will be profitable early because of the low amount of borrowed money at this time. Getting listed on AMEX or another (NYSE, etc.) is a definite goal for the future. Baltia cannot and will not remain OTC. A three year timeline is doable. They can meet the requirement of AMEX fairly easily within 18 months with an R/S. But not otherwise.
Now, regarding my analysis of the $1 requirement I must modify that to $3. That means that an R/S of 1/12 to 1/15 would be the minimum. This gives a cushion for the share price deteriorating as a result and remaining over the $3 threshold.
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