Yes, we all read M's post and I think it's one of
Post# of 22940
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Posted On: 01/24/2017 12:07:01 PM
Yes, we all read M's post and I think it's one of his most confidence inspiring posts to date. I'm glad it's stickied at the top of our board. However, M stated "may not ever need an R/S..."
NASDAQ requirements are:
1.) The stock must have a minimum initial bid price of $5.00, and must later remain at or above $1.00. This requirement serves as a safeguard against certain market activities associated with low-priced securities, and protects the credibility of the NASDAQ market. (We're exuberant about 5 cents at this point. To get it to $5 from $0.05 would require an RS of 100:1.)
2.) Net tangible assets of $6 million and net income in the latest fiscal year or two of the past three fiscal years of $1 million. In addition, a public float of $1.1 million, a market value of the public float of $8 million, a minimum of 400 shareholders, and at least three market makers. (I think we've got this nailed.)
3.) Capitalization Alternative: Companies that do not meet the quantitative requirements may nevertheless be listed on NASDAQ if they have a market capitalization of $75 million or total assets of $75 million and total revenues of $75 million, an initial minimum bid price of $5.00, and meet certain other requirements. (We'd still need a PPS of $5.)
4.) Peer revue requirements. (Probably not an issue as it's a maintenance issue.)
The AMEX requires an initial PPS of $3.00 although the capitalization requirements are less.
To get out of the pinks and get listed on either of these two exchanges would require a minimum PPS of $3. Hey, if we can do this without an RS, I'm absolutely all for that. It just doesn't seem likely.
NASDAQ requirements are:
1.) The stock must have a minimum initial bid price of $5.00, and must later remain at or above $1.00. This requirement serves as a safeguard against certain market activities associated with low-priced securities, and protects the credibility of the NASDAQ market. (We're exuberant about 5 cents at this point. To get it to $5 from $0.05 would require an RS of 100:1.)
2.) Net tangible assets of $6 million and net income in the latest fiscal year or two of the past three fiscal years of $1 million. In addition, a public float of $1.1 million, a market value of the public float of $8 million, a minimum of 400 shareholders, and at least three market makers. (I think we've got this nailed.)
3.) Capitalization Alternative: Companies that do not meet the quantitative requirements may nevertheless be listed on NASDAQ if they have a market capitalization of $75 million or total assets of $75 million and total revenues of $75 million, an initial minimum bid price of $5.00, and meet certain other requirements. (We'd still need a PPS of $5.)
4.) Peer revue requirements. (Probably not an issue as it's a maintenance issue.)
The AMEX requires an initial PPS of $3.00 although the capitalization requirements are less.
To get out of the pinks and get listed on either of these two exchanges would require a minimum PPS of $3. Hey, if we can do this without an RS, I'm absolutely all for that. It just doesn't seem likely.
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JonnyBGood