Perhaps you could find out about ACTV,s ability to upgrade their listig from the site below ???
Where can I find the requirements for a company to be listed on The
Nasdaq Stock Market?
In depth detail of rules, regs, criteria avail at the Nasdaq website,
nasdaq.com
I.e.:
4300. QUALIFICATION REQUIREMENTS FOR NASDAQ STOCK MARKET SECURITIES
The Nasdaq Stock Market is entrusted with the authority to preserve and
strengthen the quality of and public confidence in its market. The
Nasdaq Stock Market stands for integrity and ethical business practices
in order to enhance investor confidence, thereby contributing to the
financial health of the economy and supporting the capital formation
process. Nasdaq issuers, from new public companies to companies of
international stature, by being included in Nasdaq, are publicly
recognized as sharing these important objectives of The Nasdaq Stock
Market.
Nasdaq, therefore, in addition to applying the enumerated criteria set
forth in the Rule 4300 and 4400 Series, will exercise broad
discretionary authority over the initial and continued inclusion of
securities in Nasdaq in order to maintain the quality of and public
confidence in its market. Under such broad discretion and in addition to
its authority under Rule 4330(a), Nasdaq may deny initial inclusion or
apply additional or more stringent criteria for the initial or continued
inclusion of particular securities or suspend or terminate the inclusion
of particular securities based on any event, condition, or circumstance
which exists or occurs that makes initial or continued inclusion of the
securities in Nasdaq inadvisable or unwarranted in the opinion of
Nasdaq, even though the securities meet all enumerated criteria for
initial or continued inclusion in Nasdaq.
Etc, etc, etc,……
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