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Microcap & Penny Stocks : PFCK Gets $50 million cash infusion
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To: gLondahl who wrote (85)3/22/1998 12:43:00 AM
From: gLondahl  Read Replies (1) of 716
 
Correction on current listing requirements, $4/sh. is minimum
bid price. My apologies...

Summary of minimum requirements for initial
listing, effective March 3, 1997:

*Net tangible assets of $4 million, or market capitalization of $50
million, or $750,000 in net income for two of the last three years.
*Public float of one million shares
*$5 million market value for the public float
*300 shareholders
*$4 minimum bid price
*Three market makers
*Operating history of one year or a market capitalization of $50 million
*Corporate Governance Standards such as: requiring a minimum
of two independent directors on its board of directors; establishing
and maintaining an audit committee with a majority of independent
directors; holding an annual shareholders meeting; soliciting proxies
for all meetings of shareholders; distributing annual and interim reports; utilizing the company's audit committee or a comparable body to review potential conflicts of interest; and requiring shareholder
approval for certain actions

1 Net tangible assets are total assets less total liabilities and goodwill.
2 The public float consists of shares that are not held directly or indirectly by any officer or director of the issuer and by any other person who is the beneficial owner of more than 10 percent of the total shares outstanding.
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