For initial listing on the Nasdaq SmallCap Market a company must have at
least:
(i) net tangible assets of $4,000,000 or market capitalization of
$50,000,000 or net income for two of the last three years of $750,000;
(ii) public float of 1,000,000 shares with a market value of $5,000,000;
(iii) a bid price of $4.00;
(iv) three market makers;
(v) 300 shareholders and
(vi) an operating history of one year or, if less than one year,
$50,000,000 in market capitalization.
For continued listing on the Nasdaq SmallCap Market
(i) a company must have at least net tangible assets of $2,000,000 or
market capitalization of $35,000,000 or net income for two of the last
three years of $500,000;
(ii) a public float of 500,000 shares with a market value of $1,000,000;
(iii) a bid price of $1.00;
(iv) two market makers; and
(v) 300 shareholders."
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