Ok Paul, correct me if I am wrong or maybe I am mi
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Posted On: 12/01/2019 1:47:40 PM
Re: Paul Jackson #9334
Ok Paul, correct me if I am wrong or maybe I am missing something.
Did we not have multiple consecutive days over 2.00 in October AFTER the application was put in. So, while NASDAQ looks at the app, it will look at whether GNBT was over 2.00 for 5 days since the application was put in and they will see it was at 2.00 for over 5 consecutive days at closing.
What am I missing? Or are you saying it has to be the 5 days FROM PRIOR to the approval date, which is not what I understood from what I read.
(b) Determination of closing price. For purposes of Rule 5505(a)(1)(
and this IM- 5505, the closing price will be the Nasdaq Official Closing Price, if there is one, or the consolidated closing price distributed under the applicable National Market System Plan if there is no Nasdaq Official Closing Price. Nasdaq will require that a security maintain the necessary closing price for five consecutive business days, but may extend this five day period, based on any fact or circumstance, including the margin of compliance, the trading volume, the Market Maker montage, the trend of the security's price, or information or concerns raised by other regulators concerning the trading of the security.
Edit: Also, there is this:
For purposes of this paragraph (, net tangible assets or average revenues must be demonstrated on the Company's most recently filed audited financial statements filed with, and satisfying the requirements of, the Commission or Other Regulatory Authority, and which are dated less than 15 months prior to the date of listing.
Did we not have multiple consecutive days over 2.00 in October AFTER the application was put in. So, while NASDAQ looks at the app, it will look at whether GNBT was over 2.00 for 5 days since the application was put in and they will see it was at 2.00 for over 5 consecutive days at closing.
What am I missing? Or are you saying it has to be the 5 days FROM PRIOR to the approval date, which is not what I understood from what I read.
(b) Determination of closing price. For purposes of Rule 5505(a)(1)(
and this IM- 5505, the closing price will be the Nasdaq Official Closing Price, if there is one, or the consolidated closing price distributed under the applicable National Market System Plan if there is no Nasdaq Official Closing Price. Nasdaq will require that a security maintain the necessary closing price for five consecutive business days, but may extend this five day period, based on any fact or circumstance, including the margin of compliance, the trading volume, the Market Maker montage, the trend of the security's price, or information or concerns raised by other regulators concerning the trading of the security. Edit: Also, there is this:
For purposes of this paragraph (
, net tangible assets or average revenues must be demonstrated on the Company's most recently filed audited financial statements filed with, and satisfying the requirements of, the Commission or Other Regulatory Authority, and which are dated less than 15 months prior to the date of listing.
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