Barry, I pointed this out back in February and I totally agree with you. Although the NASDAQ Market requirements were updated in August, 1998, I still think BII has a chance on the National market. The August, 1998 requirements were updated to $5 U.S., therefore, technically BII does not match all requirements.
However, at the end of the same section, it is stated that the NASDAQ can make exceptions based on any of the other requirement items. That is to say, given the large market capitalization of BII, over $300M Cdn., it is quite possible that the NASDAQ would waive the $5 requirement given the large market capitalization of the company. Obviously, the $5 requirement is there to ensure a level of stability and acceptance for a particular stock, but given the market cap of BII the NASDAQ may just give them special consideration on the National Market.
As you say, they certainly did apply for National Market. I guess we'll find out soon. |
