CV Sciences Inc (CVSI)

[HopeSkeptic]

My NASDAQ uplist Due Diligence (I agree with you Ania77 - it may not be next week. Benjo- my logic ends up slightly differently than your earlier post. Follow the logic and dates- happy to hear thoughts.)

1. CVSI passed the $50 mil Marketcap on on April 18 at $.55 (using 90.9mil float= $50.9mil MC)

2. For 90 days (thru July 18) it has never closed above this level. So, requirement one, complete.

3. Monday July 23 was the first day of Stock Price closing above $2 which coincided beautifully with the 90 days Market Cap +$50 mil requirement. (Actually 'back' above since we all enjoyed those brief bursts above $2 in early June.)

4. Why $2 for SP? CVSI qualifies easily under the $2 alternative closing price because of part ii in the ** note below the table. "Net tangible assets of $5 mil" since we know how much cash they reported Aug 1 ($7 mil). This may not have been a coincidence to build cash above this level and not immediately redeploy it ...as some latex salesmen have tried to criticize them for...)

5. Application filed on that day - Monday July 23.

6. Response is 4-6 weeks average review by NASDAQ we are told by investor relations. 6 weeks from July 23 is Monday, Sept 3 (Labor Day). And maybe summer vacations, worry about SP erosion by short attack and colluding lawsuits (which never came close to threatening the minimum requirements), slowed down the last approval steps by a week, I would put notification in week of Sept 10. (if Benjo point re Dr Maroon is right, then week of 17th maybe?)

7. If this happens by Sept 14 when I am in San Diego, I will bring management some cupcakes or something...

8. Finally - regarding Nasdaq Capital Markets, CVSI would not be the 98lb weakling at this level. At $4.33 close for $393m MC, CVSI would be 85th largest MC out of 983 companies! Good company with AMD, Hostess, Dennys, Lands End and a gazillion biotechs... (https://www.nasdaq.com/screening/companies-by-industry.aspx?exchange=NASDAQ&market=NCM&sortname=marketcap&sorttype=1)

Of course: do your own DD (the notes below from old Jefra post- I learned a lot on CVSI from him- thx)

https://listingcenter.nasdaq.com/assets/initialguide.pdf
Table on page 10 (Nasdaq Capital Market Financial and Liquidity Requirements).

Read the middle column - Market Value of Listed Securities Standard.

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.