The $3 is to get listed initially. Once listed, the min bid to say on nasdaq compliance is $1.
https://listingcenter.nasdaq.com/ViewPDF.aspx...popularfl=
https://listingcenter.nasdaq.com/ViewPDF.aspx...popularfl=
Quote:If a company trades for 30 consecutive business days below the $1.00 minimum closing bid price requirement, Nasdaq will send a
deficiency notice to the company, advising that it has been afforded a "compliance period" of 180 calendar days to regain compliance with
the applicable requirements.
Thereafter, if such a company does not regain compliance with the bid price requirement a second 180-day compliance period may be
available. A company listed on the Nasdaq Capital Market may be eligible for an additional 180-day compliance period if it meets the
market value of publicly held shares requirement for continued listing, all other initial inclusion requirements for the Capital Market, except
for the bid price requirement, and provides written notice that it intends to regain compliance with the bid price requirement during the
second 180-day compliance period, by effecting a reverse stock split if necessary.
Similarly, if a company listed on the Nasdaq Global Select Market or Global Market company is unable to comply with the bid price
requirement prior to the expiration of its 180-day compliance period, it may transfer to the Nasdaq Capital Market, so as to take advantage
of the additional compliance period offered on that market. Such a company must meet the $1 million market value of publicly held
shares requirement for continued listing, and all other requirements for initial listing on the Nasdaq Capital Market (except for the bid price
requirement), and provide written notice that it intends to regain compliance with the bid price requirement during the second 180-day
compliance period, by effecting a reverse stock split if necessary. If a company does not indicate its intent to cure the deficiency, or if it
does not appear to Nasdaq that it is possible for the company to cure the deficiency, the company will not be eligible for the second
compliance period.
A Nasdaq Global or Global Select Market company that is in the Hearings Process for the minimum $1.00 bid price requirement can
submit a transfer application ONLY if it meets the continued listing requirement for market value of publicly held shares and all other initial
listing criteria (except initial bid price) for the Capital Market. If the application is approved, the company's securities will be transferred to
the Capital Market. The company will be granted the balance of the second 180-day compliance period to resolve its $1.00 bid price
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