The CFO of the company and I disagree with you.
Post# of 30027
Posted On: 09/08/2015 9:25:22 PM
The CFO of the company and I disagree with you.
He said:
"There is actually several conditions to be met but the two that we need to meet are to trade above $4 for 30 days and that is why we announced last week that we’re doing reverse stock split. Today, our shares are trading around $0.05. When the stock split becomes effective, which should be in the next couple of days, we should see the shares trade at about $7.50, so there is really comfortable margin above the $4 price that’s required to uplist on the NASDAQ. Now, we have to trade at that level for a period of 30 days and the reason why is because our company went public through a reverse merger. We did not go the traditional IPO route. As a matter of fact, we’ve never done a public offering."
So, when we do the -- after we’ve traded above the $4 level for 30 days and after we meet other requirements, we will be able to uplist to the NASDAQ and at the same time that we satisfy those requirements, we will also do a financing.
They have been free to uplist since the point where they traded above the $4 level for 30 days. After tomorrow, they lose that eligibility. Quotes are clear above and match what the rule states. Not what you state.
He said:
"There is actually several conditions to be met but the two that we need to meet are to trade above $4 for 30 days and that is why we announced last week that we’re doing reverse stock split. Today, our shares are trading around $0.05. When the stock split becomes effective, which should be in the next couple of days, we should see the shares trade at about $7.50, so there is really comfortable margin above the $4 price that’s required to uplist on the NASDAQ. Now, we have to trade at that level for a period of 30 days and the reason why is because our company went public through a reverse merger. We did not go the traditional IPO route. As a matter of fact, we’ve never done a public offering."
So, when we do the -- after we’ve traded above the $4 level for 30 days and after we meet other requirements, we will be able to uplist to the NASDAQ and at the same time that we satisfy those requirements, we will also do a financing.
They have been free to uplist since the point where they traded above the $4 level for 30 days. After tomorrow, they lose that eligibility. Quotes are clear above and match what the rule states. Not what you state.
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