Innovation Pharmaceuticals Inc (IPIX)

[Rdunn88]

LR, There might be an issue of CTIX qualifying under the closing price alternative ** See below Thereby, they'll need to meet the 4 dollar bid requirement for 90 conservative days. The question is why was there an application submitted when they never met qualifications? The debate back then was about needing BODs, but it appears they may need a sustained bid price of 4. That's a tougher task than trading 4 or above a few days. See page 9... Some posts are suggesting once they reach 4 they can up-list..

https://listingcenter.nasdaq.com/assets/initialguide.pdf


* Currently traded companies qualifying solely under the Market Value Standard must meet the $50 million Market Value of Listed Securities and the applicable bid price "which is 4 dollars" for 90 consecutive trading days before applying.


** To qualify under the closing price alternative, a company must have: (i) average annual revenues of $6 million for three years, or (ii) net tangible assets of $5 million, or (iii) net tangible assets of $2 million and a 3 year operating history, in addition to satisfying the other financial and liquidity requirements listed above


https://listingcenter.nasdaq.com/assets/initialguide.pdf