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Saturday, December 30, 2023 1:09:04 PM
They are looking to list on the Nasdaq Capital Market under rules 5505(a) and 5505(b)(2). At least that is the minimal goal:
To qualify under the closing price alternative, a company must have (i) average annual revenues of $6 million for three years, (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.
https://listingcenter.nasdaq.com/assets/initialguide.pdf
So that is the target and as I stated before...the uplist is based on a zero bid price. In their own words it states: "The reverse stock split ratio to be selected by our board will not be more than a 1-for-100,000". There is no minimal .... so don't be scared ;)
It's that simple
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