I looked through my file and found the small cap requirements as of 8/27/97. (these were the new requirements)
1)Must have one of the following 3 requirements : Net Tangible assets of 4 million(come ITG start paying up! (g) ) or Market Cap of 50 million or
Net income of $750,000 in 2 of last 3 fiscal years.
It looks like we have the market cap locked up. I am not sure how long the that price must be maintained.....30 days??
PLUS, we must have all of the following:
2)Public Float : 1 million shares.....(yep, we got this)
3)Market Value of Public Float: $5,000,000 (yep, we have this)
4)Minimum Bid Price: $4 (we are working on this one, I believe we need
it for 30 days??? I am not sure.
5)Market Makers: 3 (yep, we have this)
6) Shareholders(round lot holders) this means holders of 100 shares or more: 300 ( I would assume we have this)
7) Operating History: 1 year or a market cap of 50million (we have this)
8)Corporate Governance: Yes (yep we have this)
If anyone has anything different, please share with us. But, it appears that our only little stickler is the $4 share price. Let's go Wave!!
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