Lightwave Logic Inc (LWLG)

[Photonics_Guy]

Mike. IMO there is no error. See explanation below.

There is an error with that market value asterisk. If it is required to trade over 4.00 for 90 days, then why do they even have a 2.00 price? I think it's a mistake and it's supposed to be 2.00 for 90 days.

Mindmed listed under the Market value and they traded over 2.00 for 90 days. Never 4.00.

So it is wrong.

The Line in question shows "Bid Price OR Closing Price". The $4/shr requirement is for the Bid Price, while the $2/share requirement is for closing price and is footnoted with three asterisks.

Under the footnote for 3 asterisks, it says, "*** 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".

So, the $2/shr Closing Price requirement has an annual average revenue requirement OR net tangible asset requirements. LWLG has no annual revenues (yet) and - although I'm not an accountant - I suspect they may struggle to meet the "tangible" asset requirements. But who knows...maybe they do.

The $4/share Bid Price requirement has no such limitations.

It's also my understanding the requirements were tightened up in Mar 2021. I don't know the specifics of Mindmed, but perhaps their entry into Nasdaq occurred before that timeframe. Don't quote me on this though. I haven't looked at the earlier requirements.

PG