Hi Buildit, Regarding the $3 closing price - Pl
Post# of 36537
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Posted On: 11/22/2019 12:13:44 AM
Hi Buildit,
Regarding the $3 closing price - Please take a look at Rules 5505(a). Also, per page 10 of the Guide -
https://listingcenter.nasdaq.com/assets/initialguide.pdf
Page 10 of the Guide - there is a footnote which says -
*** To qualify under the closing price alternative, a company must have: (i) average annual revenues of $6 million for three
years, or (ii) net tangible assets of $5 million, or (iii) net tangible assets of $2 million and a 3 year operating history, in addition
to satisfying the other financial and liquidity requirements listed above.
So, my interpretation is if we want to qualify for the $3 closing price, we need to have met the net tangible assets of $2M, which GNBT does not have...that's why I said we need to have $4 bid price to qualify under the Equity Standard method...please let me know if I am missing something...
Regarding revenue - if you look at page 110 of the 10K...it shows the pro forma results of the operations for year ended July 31, 2019 as though the company acquired Veneto, Olaregen, and Regentys on the first day of the fiscal year - the annual revenue number is $11.2M, this tells me that it is possible that GNBT had close to $1M revenue during the month of July 2019 for 10K to show this kind of projection, and the only reason why annual revenue did not show an increase in revenue from the 10Qs was because adjustments must have made to revenue numbers from previous quarters. And since Excellagen only started commercializing in June 2019, I believe, the revenue should be at very minimum $1M a month going forward.
Not sure about Net Income, but revenue wise, I think it should move up nicely as Excellagen moves into more VACs and MSOs.
Regarding the $3 closing price - Please take a look at Rules 5505(a). Also, per page 10 of the Guide -
https://listingcenter.nasdaq.com/assets/initialguide.pdf
Page 10 of the Guide - there is a footnote which says -
*** To qualify under the closing price alternative, a company must have: (i) average annual revenues of $6 million for three
years, or (ii) net tangible assets of $5 million, or (iii) net tangible assets of $2 million and a 3 year operating history, in addition
to satisfying the other financial and liquidity requirements listed above.
So, my interpretation is if we want to qualify for the $3 closing price, we need to have met the net tangible assets of $2M, which GNBT does not have...that's why I said we need to have $4 bid price to qualify under the Equity Standard method...please let me know if I am missing something...
Regarding revenue - if you look at page 110 of the 10K...it shows the pro forma results of the operations for year ended July 31, 2019 as though the company acquired Veneto, Olaregen, and Regentys on the first day of the fiscal year - the annual revenue number is $11.2M, this tells me that it is possible that GNBT had close to $1M revenue during the month of July 2019 for 10K to show this kind of projection, and the only reason why annual revenue did not show an increase in revenue from the 10Qs was because adjustments must have made to revenue numbers from previous quarters. And since Excellagen only started commercializing in June 2019, I believe, the revenue should be at very minimum $1M a month going forward.
Not sure about Net Income, but revenue wise, I think it should move up nicely as Excellagen moves into more VACs and MSOs.
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