Bob in response to your question this morning on Pink Sheets. Here is the criteria needed to stay registered with NASDAQ
The NASDAQ SmallCap Market
Maintenance Requirements (1,2,3)
A) Registration under section 12(g) of the Securities and Exchange Act of 1934 or equivalent.......Yes
B) Total Assets.......................$2 Million (4)
C) Capitol & Surplus..................$1 Million (4)
D) Public Float (Shares)...............100,000 (4)
E) Market Value of Public Float........$200,000 (5)
F) Market Makers.......................2 (5)
G) Bid Price...........................$1.00 (5,6)
H) Shareholders........................300 (4)
(1) All amendments to maintenance requirements are also applicable to non canadian foriegn and ADRs, except for amended maint. req. regarding price per share and market value of public float.
(2) For all deficiencies, the issuer has the option of requesting a temporary exception to be considered by a designated qualifications committee. If the company does not come into compliance with the maint. req. within the prescribed period or request a hearing, the company will be deleated.
(3) Section 3(a) of the NASD by Laws States" the Association may in accordance with article IX of the NASD's code of procedure, apply additional or more stringent criteria for the initial or continued inclusion of particular securities or suspend or terminate the inclusion..."
(4) If a deficiency in the total assets, capital and surplus or public float req. occurs, the issuer will be notified promptly and will be given 10 to evidence compliance
(5) A deficiency for market value of public float, market makers, and bid price will be determined if the issuer fails ant of these req. for 10 consecutive days. If failureof the 10 day test occurs, the issuer will be notified promptlu and will be given 30 calendar days to comply with the MM criteria and 90 Calendar days to comply with the bid price or market value of public float req.
(6) Issuers that fail to meet the minimum bib price req. will continue to qualify if they have $1 million market value of public float and $2 million in capital and surplus.
I hope this will brighten everyones weekend Go GIANTS>>>>>>>>>
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