To: Brady B. who wrote (16479 ) 11/30/1998 9:13:00 PM From: wlcnyc Respond to of 18444
Yes, and the initial listing requirement for AMEX is $3.00 share!nasdaq.com Listing Guidelines for U.S. Companies Regular Financial Guidelines Pre-tax income $750,000 latest fiscal year or 2 of most recent 3 years Market value of public float $3,000,000 Price $3 Operating history --- Stockholders' equity $4,000,000 Alternate Financial Guidelines Pre-tax income --- Market value of public float $15,000,000 Price $3 Operating history 3 Years Stockholders' equity $4,000,000 Distribution Guidelines (applicable to regular and alternate guidelines) Alternative 1 Public float 500,000 Public Stockholders 800 Average daily volume --- Alternative 2 Public float 1,000,000 Public Stockholders 400 Average daily volume --- Alternative 3 Public float 500,000 Public Stockholders 400 Average daily volume 2,000 Regarding Alternate Listing Guidelines It is recognized that certain financially sound companies are unable to meet fully the Exchange's regular listing criteria because, for example, of the nature of their business, or because of continuing large expenditures of funds for research and development. Such companies may, however, qualify for listing provided they meet the numerical criteria outlined above, have sufficient financial resources to continue operations over an extended period of time, and are otherwise regarded as suitable for Exchange listing. Initial Public Offerings In certain circumstances, the Amex may approve an issue for listing "subject to official notice of issuance" immediately prior to effectiveness of the company's initial public offering. While the Exchange has not adopted special criteria for IPOs, added emphasis is placed on the company's financial strength and its demonstrated earnings history and/or outlook.