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Microcap & Penny Stocks : Genesis Media Group, Inc (GNNX) -- Ignore unavailable to you. Want to Upgrade?

To: inersercle who wrote (2177)	8/25/1998 8:25:00 PM
From: Harry_Behemoth	Respond to of 3129

Summary of minimum requirements for initial listing on NASDAQ SmallCap market, effective March 3, 1997: Net tangible assets1 of $4 million, or market capitalization of $50 million, or $750,000 in net income for two of the last three years Public float of one million shares2 $5 million market value for the public float 300 shareholders $4 minimum bid price Three market makers Operating history of one year or a market capitalization of $50 million Corporate Governance Standards such as: requiring a minimum of two independent directors on its board of directors; establishing and maintaining an audit committee with a majority of independent directors; holding an annual shareholders meeting; soliciting proxies for all meetings of shareholders; distributing annual and interim reports; utilizing the company's audit committee or a comparable body to review potential conflicts of interest; and requiring shareholder approval for certain actions 1 Net tangible assets are total assets less total liabilities and goodwill. 2 The public float consists of 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. Summary of minimum requirements for continued listing, effective February 23, 1998: Net tangible assets1 of $2 million, or market capitalization of $35 million, or $500,000 in net income for two of the last three years Public float of 500,000 shares2 $1 million market value for the public float 300 shareholders $1 minimum bid price3. Two market makers Corporate Governance Standards (see initial listing requirements) 1 Net tangible assets are total assets less total liabilities and goodwill. 2 The public float consists of 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. 3 A company is not in compliance with this requirement when its stock drops below $1 for 30 trading days. The company will be notified of delisting proceedings unless the stock closes at $1 or more for 10 consecutive trading days, within 90 calendar days of falling out of compliance.