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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: zwing_88 who wrote (11479)	3/13/1999 1:36:00 PM
From: Denise D	Respond to of 37507

Zwing, The Nasdaq Small Cap listing is not the "normal" Nasdaq, it is just not National Market. The two listings are just two tiers. "Each tier has its own set of financial requirements that a company must meet to list its securities. In addition, all listed companies are required to meet certain standards of corporate governance. Finally, each market tier has a set of minimum financial requirements that a company must meet for continued listing." nasdaq-amex.com Nasdaq National Market Requirements (Initial Listing) Net Tangible Assets — $6 million; Market Capitalization — N/A; Pretax Income — $1 million; Public Float (Shares) — 1.1 million; Operating History — N/A; Market Value of Public Float — $8 million; Minimum Bid Price — $5; Shareholders (round lot holders) — 400; Market Makers — 3; Corporate Governance — Yes nasdaq-amex.com Nasdaq Small Cap Market 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 nasdaq-amex.com As for the OTCBB, these stocks are not listed on the Nasdaq at all: "The OTCBB is an electronic, screen-based market for small developing companies. Companies that list on the OTCBB, unlike Nasdaq listed companies, do not have to meet minimum financial requirements to be listed or to maintain their eligibility. Nor are they subject to periodic reporting requirements (10K's, 10Q's, 8K's, etc.)." nasdaq-amex.com (Go to Data-Related Ques. 12) "The OTC Bulletin Board® (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on Nasdaq® or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, American Depositary Receipts (ADRs), and Direct Participation Programs (DPPs)." "The OTCBB is a quotation medium for subscribing members, not an issuer listing service, and should not be confused with The Nasdaq Stock MarketSM. OTCBB securities are traded by a community of Market Makers that enter quotes and trade reports through a highly sophisticated, closed computer network, which is accessed through Nasdaq Workstation IITM The OTCBB is unlike The Nasdaq Stock Market in that it: - does not impose listing standards; - does not provide automated trade executions; - does not maintain relationships with quoted issuers; and - does not have the same obligations for Market Makers." The only requirement (introduced in January of this year): "the Securities and Exchange Commission (SEC) approved amendments to National Association of Securities Dealers, Inc. (NASD®) Rules 6530 and 6540 to limit quotations on the OTC Bulletin Board® (OTCBB) to the securities of companies that report their current financial information to the SEC, banking, or insurance regulators." nasdaq-amex.com Hope this helps. Denise. PS. I might be going out on a limb here, but I think the only thing which will differentiate which listing BII attains is the Minimum Bid Price.