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Posted On: 09/20/2020 10:48:03 PM
Post# of 36566
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
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
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