CV Sciences Inc (CVSI)

[jefra1965]

Explaining the $4.00 Bid price, or the $2.00 - $3.00 minimum closing price for up-listing

Application date: July 23

Refer to the table in page 10 (Nasdaq Capital Market
Financial and Liquidity Requirements) of the following link:
https://listingcenter.nasdaq.com/assets/initialguide.pdf

At the bottom of the table is written:
Quote:

* 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 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.


Conclusion: It is clear that CVSI meets all the criteria under the "Equity Standard" requirements and qualifies under the closing price alternative. The minimum closing price must be $3.00 and does not need to wait 90 days. The timeline is by the end of August or first week in September

Listing Timeline
While it generally takes four to six weeks to process a listing application, this time frame is variable and may be shortened considerably, if the application raises no issues and the company responds quickly to Staff comments.
Week 1. Company submits application for listing and Nasdaq Listing Qualifications Staff begins its review.
Weeks 2-3. Staff completes its preliminary review and prepares comment letter.
Weeks 3-4. Company addresses any issues raised by Staff.
Weeks 5-6. Staff completes their review and company is approved for listing.