In October 2008 the NYSE completed acquisition of the American Stock Exchange (AMEX) for $260 million in stock. The new company is called NYSE America
Drawing on its heritage as the American Stock Exchange, NYSE American is an exchange designed for growing companies, and offers investors greater choice in how they trade.
NYSE AMERICA CONTINUED LISTING STANDARDS
DISTRIBUTION CRITERIA
Required to meet all of the following public distribution criteria:
• Shareholders 300
• Shares 200,000 (NAK = 312 million shares)
• Market value $1MM (NAK @ $0.50 +x 312 million shares = $156 MM market value)
FINANCIAL CRITERIA
Required to meet all of the following:
I.? $2MM in stockholders’ equity if reported losses from continuing operations and/or net losses in 2 of last 3 fiscal years
II.? $4MM stockholders’ equity if reported losses from continuing operations and/or net losses in 3 of last 4 fiscal years
III.? $6MM in stockholder’s equity if reported losses from continuing operations and/or net losses in last 5 fiscal years
IV. Financial condition of the company cannot be impaired
*NYSE America will not normally suspend an issuer which is below criteria (I) through (III) above if issuer is in compliance with all of the following:
• 1.1MM publicly-held shares
• $15MM market value of publicly-held shares
• 400 round lot holders
• $50MM market cap OR total assets & revenue of $50MM each in last fiscal year or 2 of last 3 fiscal years
OTHER CONSIDERATIONS
The following criteria are not grounds for automatic delisting, however, NYSE America reserves the right to delist companies should any of the following occur:
• Issuer ceases as an operating company or disposes of principal operating assets where issuer has substantially discontinued business it conducted as the time it was listed
• Liquidation of the issuer has been authorized
• Advice has been received, deemed by the Exchange to be authoritative, that the security is without value
• Failure to comply with listing or other agreements with the Exchange and/or SEC requirements in any material respect
• Common stock sells for a low price for a substantial period of time and/or issuer fails to effect a reverse split of such shares within a reasonable time after being notified of such potential actions by the Exchange. Delisting is not automatic because of a low stock price. The company will be evaluated. Delisting proceedings will not be initiated unless the company is first notified of the pending delisting.
• Issuer or its management engage in operations which, in the opinion of the Exchange, are contrary to the public interest
• Issuer fails or refuses to pay, when due, any applicable NYSE MKT listing fees
