Cotton & Western Mining Inc. (CWRN)

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For general info,including reasons for IPO, see wikipedia.org.

If they want to list on NASDAQ, the IPO would have to meet minimum requirements for NASDAQ.
An IPO is more about the reasons for an IPO than the minimum requirements-usually private to public corp status to take advantage of advantages inherent to public corp's-- the chief of which is probably to raise large amounts of capital for expansion without having to deal w repeated private placement negotiations or debt. IPO helps raise large amount of capital for the company because price of shares so issued goes directly to the company for expansion.