I believe we will apply for listing under initial listing standard 3. As of the last Q the stockholders equity was 2,746,027. I believe that we are already over this threshold with the conversion of the Series preferred into common shares. The market cap must be over $50,000,000 and based on the most recent OS count of 86,038,601 at $2 dollars that puts us at $172,077,202. Of not is that we will have a higher OS count when the time comes due to the directors purchasing about 1 miilion options, Butler most likely exercising his right to buy 1 million shares @ $.515 in May, and the audit verifying Mako's EBITDA and giving Marcell his remaining shares. The value of publicly held shares must also be over $15,000,000 which should be easy enough considering that the float is around 19,000,000 shares, so potentially putting us at closed to $40,000,000. I think that the 10K will most likely put us in position to uplist so long as the share price appreciated to the $2 level.
Amex Company Guide PART 1. Original Listing Requirements (§§101-146) CRITERIA FOR ORIGINAL LISTING (§§101-118) Sec. 101. GENERAL
The approval of an application for the listing of securities is a matter solely within the discretion of the Exchange. The Exchange has established certain minimum numerical standards, set forth below. The fact that an applicant may meet the Exchange's numerical standards does not necessarily mean that its application will be approved. Other factors which will also be considered include, but are not limited to, the nature of an issuer's business, the market for its products, its regulatory history, its past corporate governance activities, the reputation of its management, its historical record and pattern of growth, its financial integrity (including, but not limited to, any filing for protection under any provision of the federal bankruptcy laws or comparable foreign laws, the issuance by an issuer's independent accountants of a disclaimer opinion on financial statements required to be audited, or failure to provide a required certification along with financial statements), its demonstrated earning power and its future outlook.
See § 110 for special criteria relating to foreign issuers and Rules 1000, 1000A, and 1200 for rules relating to Portfolio Depositary Receipts, Index Fund Shares, and Trust Issued Receipts.
(a) INITIAL LISTING STANDARD 1
(1) Size—Stockholders' equity of at least $4,000,000.
(2) Income—Pre-tax income from continuing operations of at least $750,000 in its last fiscal year, or in two of its last three fiscal years.
(3) Distribution—See Section 102(a).
(4) Stock Price/Market Value of Shares Publicly Held—See Section 102(b).
(b) INITIAL LISTING STANDARD 2
(1) History of Operations—Two years of operations.
(2) Size—Stockholders' equity of at least $4,000,000.
(3) Distribution—See Section 102(a).
(4) Aggregate Market Value of Publicly Held Shares—$15,000,000.
(5) Stock Price/Market Value of Shares Publicly Held—See Section 102(b).
(c) INITIAL LISTING STANDARD 3
(1) Size—Stockholders' equity of at least $4,000,000.
(2) Total Value of Market Capitalization—$50,000,000.
(3) Aggregate Market Value of Publicly Held Shares—$15,000,000.
(4) Distribution—See Section 102(a).
(5) Stock Price/Market Value of Shares Publicly Held—See Section 102(b).
(d) INITIAL LISTING STANDARD 4
(1) Total Value of Market Capitalization—$75,000,000; or
Total assets and total revenue—$75,000,000 each in its last fiscal year, or in two of its last three fiscal years.
(2) Aggregate Market Value of Publicly Held Shares—$20,000,000.
(3) Distribution—See Section 102(a).
(4) Stock Price/Market Value of Shares Publicly Held—See Section 102(b).
Sec. 102. EQUITY ISSUES
(a) Distribution—Minimum public distribution * of 500,000, together with a minimum of 800 public shareholders or minimum public distribution of 1,000,000 shares together with a minimum of 400 public shareholders, except for applicants seeking to qualify for listing pursuant to Section 101(e).
The Exchange may also consider the listing of a company's securities if the company has a minimum of 500,000 shares publicly held, a minimum of 400 public shareholders and daily trading volume in the issue has been approximately 2,000 shares or more for the six months preceding the date of application. In evaluating the suitability of an issue for listing under this trading provision, the Exchange will review the nature and frequency of such activity and such other factors as it may determine to be relevant in ascertaining whether such issue is suitable for auction market trading. A security which trades infrequently will not be considered for listing under this paragraph even though average daily volume amounts to 2,000 shares per day or more.
In addition, the Exchange may also consider the listing of the securities of a bank which has a minimum of 500,000 shares publicly held and a minimum of 400 public shareholders.
Except for banks, companies whose securities are concentrated in a limited geographical area, or whose securities are largely held in block by institutional investors, are normally not considered eligible for listing unless the public distribution appreciably exceeds 500,000 shares.
(b) Stock Price/Market Value of Shares Publicly Held—The Exchange requires a minimum market price of $3 per share for applicants seeking to qualify for listing pursuant to Section 101 (a), (b) or (d), a minimum market price of $2 per share for applicants seeking to qualify for listing pursuant to Section 101(c), and $3,000,000 aggregate market value of publicly held shares for applicants seeking to qualify for listing pursuant to Section 101(a).
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