<<"(B) For continued inclusion, the issuer shall maintain:
(i) net tangible assets of $2 million;
(ii) market capitalization of $35 million; or
(iii) net income of $500,000 in the most
recently completed fiscal year or in two of the
last three most recently completed fiscal
years."
Net Revenues $ 1,003,426 (6/30/96) $ 484,434 (6/30/95)
******Will they be able to report $500,000 in income for 1997?>>
DD, 2 point FYI. These are NASDAQ maintenance requirements. RMIL is OTC-BB. (Initial NASDAQ listing requirements are more stringent than the maintenance requirements, as well)
Second, OVIS had "revenues" of 1,003,426 and 484,434 for FY '96 and '95 respectively, not "income". Income for those years was a loss of $18,276,489 and a loss of $68,494.
Income is what's left after taking all your expenses out of your gross revenues.
This company should be pleased if it can hold on to its BB listing much less look to any of the major exchanges.
mike |
