to meet the nasdaq market value (mv) requirement zn only needs a pps slightly lower than 15c-a condition zn resatisfied today-zn has not received any notice re market value
dont think zn has any automatic pps extensions left but negotiations are likely - big boards dont like to lose the 185k/yr listing fees
i've seen companies on the nyse go over 5 years well below one dollar pps- mentioned hus- which is another houston based oil company,before- which is only .1433 pps(and below .25 for at least 6 months)without even any mention of a deficiency notice in their filings as far as i've seen.
previous discussion of pinks may have been generic but there are 3 levels/tiers of otc stocks- pink(which include pink current, many of which are now sec reporting)
;otcqb- all sec reporting,min bid of 1 cent and 10k annual surcharge to be listed;
and otcqx-begun ca 2009,which includes many foreign blue chips who dont want to pay the high fees of usa big boards-the general amount of info provided on otcqx companies is quite extensive now
there are several initial listing standards to choose from on otcqx-
note: if the company has immediately preceding been on a big board -as zn is- the min bid price under 1 of these otcqx standards is only 10c
from otcqx initial listing standards[emphasis added-the citation for this disappeared and cant immediately recover it)]
c) Have a primary class of securities with a minimum bid price of $0.25 per share as of the close of
business on each of the 30 consecutive calendar days immediately preceding the Company’s
Application Day. OTC Markets Group may consider an exemption to this requirement in the
following circumstances:
1. There has been no prior public market for the Company’s securities in the U.S., and FINRA
has recently approved a Form 211 relating to the Company’s securities with a bid price
equal to or greater than $0.25; or
2. The Company is applying for admission to OTCQX immediately subsequent to delisting
from a national securities exchange and has a minimum bid price of at least $0.10;
An exemption from the minimum bid price requirement of this Section 2.1(c) may be granted by
OTC Markets Group in its sole and absolute discretion. Any such exemption is conditioned upon
the bid price for such Company’s securities remaining over $0.25 or $0.10, respectively, for the
Company’s first 30 days on OTCQX;
d) Have a Market Capitalization of at least $10 million on each of the 30 consecutive calendar days
immediately preceding the Company’s Application Day. In the event that there has been no prior
public market for the Company’s securities, then OTC Markets Group may, in its sole and absolute
discretion, grant an exemption from the 30 consecutive calendar day look back period;
e) Have ongoing operations and not be a Shell Company or Blank-Check Company;
f) Not be subject to any Bankruptcy or
Imo. Do your dd before investing. I'm not a financial adviser nor compensated for my posts. They don't believe what they say, so why should you?
