Muscle Pharm Corporation (MSLPQ)

[Aspenots]

Under the equity standard on page 9 https://listingcenter.nasdaqomx.com/assets/initialguide.pdf Muscle Pharm needs to meet the following requirements:
1) Stockholders equity of $5 million
2) Market value of publicly held shares of $15 million (not yet met)
3) Operating history of 2 years
4) Publicly held shares of 1 million
5) Shareholders of 300
6) Market makers = 3
7) Bid price of $4 or Closing price of $3*
*Since the bid has dropped below $4 during the application process (still in the process since #2 has not been met), the closing price of $3+ is now applicable. For #7 to be satisfied the closing price must stay above $3 for 5 consecutive business days AND muscle pharm must meet 1 of 3 conditions, 1 being an average revenues of $6 million over 3 years.

The only thing I can draw from this is that once the offering is complete, muscle pharm will be able to uplist because they'd then be meeting #2 and thus all conditions are met.

There is no mention of 45 days in the listing requirements.

There's also corporate governance requirements, but I believe all those have been met.