hylander, read the fine print on page 10 *... * C
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Posted On: 10/15/2019 11:24:52 AM
hylander, read the fine print on page 10 *...
GNBT would be trying for the Market Value listing. Look at page 10 here and use the center column and the fine print note below the table...
https://listingcenter.nasdaq.com/assets/initialguide.pdf
You are pulling your info from here...
However the fine print says we need 90 days for Market Value listing. But it also says you need to have 90 consecutive trading days above $2 BEFORE APPLYING. We don't have 90 days yet. We have 82 so far and have already applied.
Quote:
* Currently traded companies qualifying solely under the Market Value Standard must meet the $50 million Market Value of
Listed Securities and the applicable bid price requirement for 90 consecutive trading days before applying.
GNBT would be trying for the Market Value listing. Look at page 10 here and use the center column and the fine print note below the table...
https://listingcenter.nasdaq.com/assets/initialguide.pdf
You are pulling your info from here...
Quote:
(a) Initial Listing Requirements for Primary Equity Securities:
(1) (A) Minimum bid price of $4 per share; or
(Minimum closing price of $3 per share, if the Company meets the requirements of the Equity or Net Income Standards under Rules 5505(b)(1) or (b)(3), or of $2 per share, if the Company meets the requirements of the Market Value of Listed Securities Standard under Rule 5505(b)(2), provided that in either case the Company must also demonstrate that it has net tangible assets (i.e., total assets less intangible assets and liabilities) in excess of $2 million, if the issuer has been in continuous operation for at least three years; or net tangible assets in excess of $5 million, if the issuer has been in continuous operation for less than three years; or average revenue of at least $6 million for the last three years. A security must meet the applicable closing price requirement for at least five consecutive business days prior to approval.
However the fine print says we need 90 days for Market Value listing. But it also says you need to have 90 consecutive trading days above $2 BEFORE APPLYING. We don't have 90 days yet. We have 82 so far and have already applied.
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.
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