John:
Are you saying to the thread that Jimmy thinks MRPS meets all of the NASDAQ listing requirements with the exception of a $4 share price?
Has Jimmy, or anyone at MRPS ever checked the listing requirements?
They are listed below for your (and Jimmy's) erudition. I have not included the Corporate Governance requirements, because I know MRPS fails miserably in that area.
The Nasdaq SmallCap Market Requirements
Requirements Initial Listing
Net Tangible Assets $4 million
or,
Market Capitalization $50 million
or,
Net Income (in latest fiscal year or 2 of last 3 fiscal years)
$750,000
Public Float (shares)1 million
Market Value of Public Float $5 million
Minimum Bid Price $4
Market Makers 3
Shareholders (round lot holders)300
Operating History 1 year
or,
Market Capitalization
$50 million
Corporate Governance Yes
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1For initial or continued listing, a company must satisfy one of the following to be in compliance: the net tangible assets requirement, (net tangible assets means total assets, excluding goodwill, minus total liabilities) the market capitalization requirement or the net income requirement.
2Public float is defined as 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.
3Round lot holders are considered holders of 100 shares or more.
4If operating history is less than 1 year, initial listing requires market capitalization of at least $50 million.
Rgeards,
Basildon Bond |
