Lightwave Logic Inc (LWLG)

[Photonics_Guy]

I think it's fairly straightforward, but you do have to parse that line a bit.

Your point is valid. However, if you read all of the rule and look at the table, it becomes very confusing. The three asterisks on the table seem to only apply to the $2 closing price. I'm not trying to argue one way or another, just trying to understand what the rules actually say.

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) but they supposedly meet the "tangible" asset requirements. So they may or may not meet the requirements for this line, depending on how the regulator views it.

However, the $4/share Bid Price requirement has no such limitations on annual revenues.

PG