Nasdaq requires minimum $3-or-$2 per share. Surge is $0.34.
And Surge is about to issue $11M worth of shares (dilute outstanding shares very significantly), which most often upends current investor confidence, who then sell, driving the share price lower still, and/or drives share price down to maintain marketap valuation.
With $11M incoming, Surge will likely thereafter meet the total assets equity requirement of minimum $4M or $5M. Surge just needs to not spend most of it on operations or acquisitions.
Surge current assets and liabilities and stockholders' equity are:
Total assets -- 5,248,301
Total liabilities -- 7,073,019
Total stockholders’ equity (deficit). -- (1,824,718)
Surge has just 134 holders of record of Common shares. That's it.
Nasdaq requires a minimum 300 Unrestricted Round Lot Shareholders at least 150 of which must each hold unrestricted securities with a minimum value of $2,500.
Nasdaq's Net Income Standard requires minimum $750,000 Net Income. Surge is $4.1M Net Loss. ($750,000 Net Income from Continuing Operations, in the latest fiscal year or in two of the last three fiscal years)
or
To alternately meet and with Nasdaq's Market Value of Listed Securities Standard, Surge will need $50M market valuation of listed equities, and share price can be as low as $2 per share closing price for at least five consecutive days prior to a nasdaq listing approval.
or
To alternately meet and with Nasdaq's Equity Standard, Surge will need $5M in equity ($1M more than the other two standards), 300 Unrestricted Round Lot Shareholders, and a $3 per share closing price.
To get on Nasdaq, Surge needs to ramp up sales revenue and turn to have Net Income (no more deficits), or, as a $2 or $3 share price will likely take Surge some good amount time,
Surge may surprise with a Reverse share maneuver.
