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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: SSP who wrote (35413)	3/10/2000 8:58:00 AM
From: john	Read Replies (3) \| Respond to of 150070

Information re Nasdaq listing......... interesting. By: Dagger_SA Reply To: 33059 by crackerboy Wednesday, 8 Mar 2000 at 9:11 PM EST Post # of 33600 The 30-day Requirement Once again, I feel compelled to explain that there is no requirement for a stock to trade above $4 for 30 days in order to meet eligibility for listing. This commonly referred to requirement is a misunderstanding of the poorly worded NASDAQ rule. Please allow me to enlighten you: The requirement is that a stock must be above $4 to be eligible for application for listing. Thereafter, during the entire application review process (which could last much longer than 30 days), the stock must continually stay above $4. IF the stock falls below the $4 threshold, the application is held in abeyance, and the stock has 30 days to get back above $4 level. As soon as that happens, the application process resumes. HOWEVER, if the stock does NOT get back above $4 within 30 days, the application is moot and the company will have to re-apply at a later date when eligibility is met. Trust me, the NASDAQ does a poor job of explaining that rule, and the misreading of this requirement is very widespread -- I, too, was once guilty of believing there was a 30-day over $4 rule, until I had to research the requirements a bit deeper and became enlightened myself. I hope anyone reading this helps to squelch this often cited misnomer. Best regards!