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Microcap & Penny Stocks : MIDL .... A Real Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (1152)	6/19/1998 10:52:00 PM
From: Kurt N	Read Replies (2) \| Respond to of 7039

nasdaqnews.com nasdaq.com law.uc.edu ...... 4310. Qualification Requirements for Domestic and Canadian Securities To qualify for inclusion in Nasdaq, a security of a domestic or Canadian issuer shall satisfy all applicable requirements contained in paragraphs (a) or (b), and (c) hereof. (a) A security other than a security distributed in connection with an initial public offering shall be considered for inclusion in Nasdaq provided that it is: (1) registered pursuant to Section 12(g)(1) of the Act; ........ (c) In addition to the requirements contained in paragraph (a) or (b) above, and unless otherwise indicated, a security shall satisfy the following criteria for inclusion in Nasdaq: .... (4) For initial inclusion, common or preferred stock shall have a minimum bid price of $4 per share. For continued inclusion, the minimum bid price per share shall be $1. .... (6) In the case of common stock, there shall be at least 300 round lot holders of the security. An account of a member that is beneficially owned by a customer (as defined in Rule 0120) will be considered a holder of a security upon appropriate verification by the member. (7) In the case of common stock, there shall be at least 1,000,000 publicly held shares for initial inclusion and 500,000 publicly held shares for continued inclusion. For initial inclusion such shares shall have a market value of at least $5 million. For continued inclusion such shares shall have a market value of at least $1 million. Shares held directly or indirectly by any officer or director of the issuer and by any person who is the beneficial owner of more than 10 percent of the total shares outstanding are not considered to be publicly held. ..... While the link nasdaq.com summarizes the key requirements, it does NOT say that the Public Float requirement only applies to common stock. Some of the Corporate governance requirements, like at least 2 independant directors on the BOD, would be welcome. Kurt