Thursday, March 28, 2024 9:53:56 AM
They are supposedly moving into an OTC shell.
Moving up to NASDAQ from the OTC is not an easy and quick process. It could take years. There are many listing requirements. Such as:
$4 stock price
Companies must also have at least 450 round lot (i.e., 100 shares or more) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the previous two years at least $2.2 million, and no single year in the prior three years can have a net loss.
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. Also, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
And the list goes on...
If the company was as big as the pumper clowns are trying to claim, they would go directly to NASDAQ as that sign suggests, and not be dicking around on a scammy exchange.
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