FTE Networks Inc (fka FTNW)

[Schneidku40]

Sorry, but they are likely months to years away from an uplist to NASDAQ. They don't meet hardly any of the requirements.

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

They need a minimum bid price of $4 (no), OR closing price of $3 if they have net income of 750k for two years and tangible asset-backed equity of $4 million (no) or $5 million in equity consisting of tangible assets (no), or $2 share price if they have a market cap of $50 million and tangible asset-backed equity of $4 million (no).

They need at least 5 people on the BOD, 3 of which are independent (yes).

They need two years of audited financials (no). they also need to file annual reports, which I can't find on their website. they also need to hold annual meetings, and actually proxy common stock shareholders to get a quorum of at least 33 1/3%. They didn't even let common stockholders vote on the R/S, if I see that right.

Their biggest hurdle is equity. I don't see how they can get tangible asset-based equity of $4 million anytime soon. Right now their equity is approximately -63 million if you take out the intangible assets, according to 2Q report. Once they have the debt from the Benchmark purchase gone, then maybe they can uplist.