Trio Petroleum Corp (TPET)

[FACT-MASTER]

I'll admit that the article i posted, supported the argument for the $1 mark as the requirement for maintaining the NYSE listing, however, did a deeper dive and here is what might be more relevant requirements:

1. In TPET's March 1/24 notice of deficiency they quote Section 1003(f)(v) of the NYSE American Company Guide (the “Company Guide”)

Click on Part 10

https://nyseamerican.wolterskluwer.cloud/company-guide

With particular attention to:
Section 1002 POLICIES WITH RESPECT TO CONTINUED LISTING
Sec. 1003. APPLICATION OF POLICIES

No where is it stated that the minimum price needs to be $1, appears that the criteria is more related to market cap., shareholder equity, # of shareholders, etc.

From Section 1003 :

"However, the Exchange will not normally consider suspending dealings in, or removing from the list, the securities of an issuer which is below any of standards (i) through (iii) above if the issuer is in compliance with the following:

Total value of market capitalization* of at least $50,000,000; or total assets and revenue of $50,000,000 each in its last fiscal year, or in two of its last three fiscal years; and

The issuer has at least 1,100,000 shares publicly held, a market value of publicly held shares of at least $15,000,000 and 400 round lot shareholders.

All of the above suggests that stock trading price thresh holds could be variable, and in more relation to market cap.

It may very well be that TPET is in compliance now, notwithstanding the time element of maintaining the compliant requirements.

ie: today's closing market cap = 18 million