I have posted in the past about the SEC $5 penny stock rule and I have to stand corrected. When we get the up list we are no longer an "SEC" penny stock, even if trading at $2. The "$5 and less is a SEC penny stock" rule does not apply when a company is a "listed security", no matter the price. Thus, once we are listed on the Nasdaq we can be purchased by mutual funds and brokers can actually recommend our stock to their clients, even if we are trading less than $5.