Innovation Pharmaceuticals Inc (IPIX)

[CallMeCrazy]

I believe this is incorrect.

I think CTIX qualified for the Market Value of Listed Securities Standard under the Capital Market tier when Leo submitted the application. The closing price was over $2 for 90 days at that time.

According to the Nasdaq Listing requirements under Capital Markets:

* 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 requirement [$4] for 90 consecutive trading days before applying.

There are 3 standards under Capital Market:

1. Market Value- We didn't/don't meet this requirement for the above reason ($4 bid price for 90 days).

2. Net Income from Continuing Operations (in the latest fiscal year or in two of the last three fiscal years) --- --- $750,000. Obviously, we don't meet this one.

3. The Equity Standard is the standard I believe we qualified under. $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;

I feel confident that we met the 2-year operating requirement and thus I fully expect a Monday corporate update with uplisting as the lead story. And if it doesn't happen? Hey, I'm a long. I can wait.

P.S. This info is available on page 9 of the Nasdaq Listing Requirements. I wasn't able to provide a link.