CVLB's management has covered all the basic things to be uplisted to the NasdaqCM:
3 years sales average
*** 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.
And internal regulatory issues (Corporate Governance Requirements
) And other key things needed. https://listingcenter.nasdaq.com/assets/initialguide.pdf
On Tuesday they will probably finish the rest of the housekeeping necessary during the special meeting and we will probably see the uplisting announcement within 10 trading days after that. JMHO
Just so you have an idea of the power of CVLB's business model. CVLB started with a $4MM funding at the beginning of 2016 and a little over 4 years laters this team of savy e-commerece technocrats have been able to pull a $40MM in revenues fiscal year (Estimated for 2020). If you take a look at the financials you will see that they accomplished this with almost none extra cash available. Which means that all revenue (gross margin) made was recycled into the business and that's the nature of this business model. As long as the units economics are good you can pump the cash available into "sales & marketing" to acquire and grow the subscribers base. It's a beautiful business model.
And by the speed at which the subscriber base and revenue has been growing it's safe to say that the unit economics are just great.
This is just the beginning of something really great. Once we reach the Nasdaq, bigger and better terms capital will become available and I can't really fathom how big this company can grow in the next few years with those facilities available. We already have about $20MM of cash available. The BOD seems very strong and prepared for what's coming. I honestly believe in the approach they have taken in the recent PRs of pursuing the science behind the products that the company will offer in the future, by securing licenses for great IPs to support these new products. But this is only my opinion, perform your own DD always.
GLTA in the next couple of weeks and years to come. It would be foolish NOT to stay and see what this crew can do with the upcoming cash available.