NASDAQ uplisting requirements for GNBT - GNBT can uplist right away if NGIO spin out increase the PPS to $4 and added increased stockholders' equity to $5 million.


On page 9, under the Equity Standard - We need the following:

1.Stockholders' Equity - $5 million - we should be able to reach after NGIO spun off

2. Market value of unrestricted public held shares - $15 million - we are ok

3. Operating History - 2 years - we met

4. Unrestricted public held shares - 1 million - we met

5.Unrestricted round lot shareholders - 300 - we met

6.Market Makers - 3 - we met

7.Bid Price - $4 or Closing Price $3 - after NGIO and if we trade above $4, then we will meet

(* To qualify under the closing price alternative, a company must have: (i) average annual revenues of $6 million for three years, or (ii)
net tangible assets of $5 million, or (iii) net tangible assets of $2 million and a 3 year operating history, in addition to satisfying the other
financial and liquidity requirements listed above.)








https://listingcenter.nasdaq.com/assets/initialguide.pdf