Smart investors who follow along do know the proce
Post# of 30066
Posted On: 09/08/2015 7:52:53 PM
Smart investors who follow along do know the process.
AMBS became public by doing a reverse merger.
There are special rules that NASDAQ imposes upon companies that went public via a reverse merger.
One of them is that the company has to trade at over $4 for at least 30 out of the last 60 days prior to the approval for uplist.
The CFO explained this in the last conference call.
NASDAQ Rule 5110(c)(2) provides that "in addition to satisfying all of Nasdaq's other initial listing requirements, a Reverse Merger Company will only be approved for listing if, at the time of approval, it has:
... maintained a closing price of $4 per share or higher for a sustained period of time, but in no event for less than 30 of the most recent 60 trading days prior to approval.
If they don't get approval by tomorrow, they lose the 30 out of 60 requirement. "Nowhere does it state"? The CFO stated it and and the NASDAQ rules state it.
AMBS became public by doing a reverse merger.
There are special rules that NASDAQ imposes upon companies that went public via a reverse merger.
One of them is that the company has to trade at over $4 for at least 30 out of the last 60 days prior to the approval for uplist.
The CFO explained this in the last conference call.
NASDAQ Rule 5110(c)(2) provides that "in addition to satisfying all of Nasdaq's other initial listing requirements, a Reverse Merger Company will only be approved for listing if, at the time of approval, it has:
... maintained a closing price of $4 per share or higher for a sustained period of time, but in no event for less than 30 of the most recent 60 trading days prior to approval.
If they don't get approval by tomorrow, they lose the 30 out of 60 requirement. "Nowhere does it state"? The CFO stated it and and the NASDAQ rules state it.
Quote:
They don't have to uplist by tomorrow. Just cause it is the 60th day means nothing. It just means they met requirements. Nowhere does it state they have to get an answer by the 60th day. Need to stop assuming everyone knows the process
(0)
(0)