Hey, Pokey, I hope Joe, you, and others are right
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Posted On: 11/01/2019 7:31:50 PM
Hey, Pokey, I hope Joe, you, and others are right about the previous $2 runs.
However, I think of it this way. If I were the Naz official in charge of this, what would I do?
Say I'm analyzing a company's application that had a price well over $2 a year or 2 ago. Since that time, they have issued, let's say, "a buttload" of new shares, making their share count MANY TIMES what it used to be. Regardless whether this drastic share count increase was due to a dividend or a split, do I consider that previous price as valid in their current application? What if the market cap at the time of the $2 runs was not sufficient for listing, and the price has not had a 90 day run since the market cap met rose above acceptable minimum?
I believe I'd be skeptical in this case, if I were supposed to stick strictly to the rules.
As I said in my post, I don't know how much wiggle room the Naz has. There certainly are many factors that GNBT has going for it, and anyone doing an intelligent analysis would be able to see that there is much in the works that would make it a good addition to the Nasdaq that MANY other applicants don't have.
But the real question is how much leeway do they have... because, frankly, any company could have a $2+ run, then issue a similar "buttload" of stock and still claim they previously met the share price minimum...
I hope we see that 10k soon, so we can address this question : )
Regardless, if we miss this pass, I think we'll still uplist next year...
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As joe mentioned in the call and others have pointed out here the uplist required 2$ for 99 days prior to application. Pre the call that was done 2x. After reaching that milestone it is only required to be above 2$ for 5 days.
However, I think of it this way. If I were the Naz official in charge of this, what would I do?
Say I'm analyzing a company's application that had a price well over $2 a year or 2 ago. Since that time, they have issued, let's say, "a buttload" of new shares, making their share count MANY TIMES what it used to be. Regardless whether this drastic share count increase was due to a dividend or a split, do I consider that previous price as valid in their current application? What if the market cap at the time of the $2 runs was not sufficient for listing, and the price has not had a 90 day run since the market cap met rose above acceptable minimum?
I believe I'd be skeptical in this case, if I were supposed to stick strictly to the rules.
As I said in my post, I don't know how much wiggle room the Naz has. There certainly are many factors that GNBT has going for it, and anyone doing an intelligent analysis would be able to see that there is much in the works that would make it a good addition to the Nasdaq that MANY other applicants don't have.
But the real question is how much leeway do they have... because, frankly, any company could have a $2+ run, then issue a similar "buttload" of stock and still claim they previously met the share price minimum...
I hope we see that 10k soon, so we can address this question : )
Regardless, if we miss this pass, I think we'll still uplist next year...
==========
As joe mentioned in the call and others have pointed out here the uplist required 2$ for 99 days prior to application. Pre the call that was done 2x. After reaching that milestone it is only required to be above 2$ for 5 days.
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