Electronic Cigarettes International Group Ltd fka ECIGQ

[Investorr1954]

NEW NASDAQ $2 / $3 INITIAL PRICE LISTING STANDARDS

It seems ECIG can uplist for $2.

Link to article

By Andrew Ledbetter on April 24, 2012

As a quick follow up on this topic from a few months ago (prior post can be read here), the SEC has approved alternatives to Nasdaq’s historical $4 minimum bid price listing standard. Under the new alternative listing standards, a security may qualify for listing on the Nasdaq Capital Market if:

$3/share price — for at least five consecutive business days prior to approval, the security has a minimum closing price of at least $3 per share and the issuer has either:

Equity Standard: (A) stockholders’ equity of at least $5M; (B) market value of publicly held shares of at least $15M; and (C) a two year operating history; or
Net Income Standard: (A) net income from continuing operations of $750,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years; (B) stockholders’ equity of at least $4M; and (C) market value of publicly held shares of at least $5 million;

or
$2/share price — for at least five consecutive business days prior to approval, the security has a minimum closing price of at least $2 per share and the issuer has (A) market value of listed securities of at least $50M; (B) stockholders’ equity of at least $4M; and (C) market value of publicly held shares of at least $15M.

In addition, the issuer must also demonstrate that it has:

Net tangible assets in excess of $2M if it has been in continuous operation for at least three years;
Net tangible assets in excess of $5M if it has been in continuous operation for less than three years; or
Average revenue of at least $6M for the last three years.