Amarantus Bioscience Holdings Inc (AMBS)

[Skeetz99]

Nasdaq listing requirements are minimum $2 (to regain compliance if your stock falls below the minimum for so many days; it must come back over $1 to regain compliance.


New Nasdaq $2 / $3 Initial Price Listing Standards

As a quick follow up on this topic from a few months ago (prior post can be read here), the SEC has approved alternatives to Nasdaq's historical $4 minimum bid price listing standard. Under the new alternative listing standards, a security may qualify for listing on the Nasdaq Capital Market if:
$3/share price -- for at least five consecutive business days prior to approval, the security has a minimum closing price of at least $3 per share and the issuer has either: Equity Standard: (A) stockholders' equity of at least $5M; (B) market value of publicly held shares of at least $15M; and (C) a two year operating history; or
Net Income Standard: (A) net income from continuing operations of $750,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years; (B) stockholders' equity of at least $4M; and (C) market value of publicly held shares of at least $5 million; or

$2/share price -- for at least five consecutive business days prior to approval, the security has a minimum closing price of at least $2 per share and the issuer has (A) market value of listed securities of at least $50M; (B) stockholders' equity of at least $4M; and (C) market value of publicly held shares of at least $15M.

In addition, the issuer must also demonstrate that it has:
Net tangible assets in excess of $2M if it has been in continuous operation for at least three years;
Net tangible assets in excess of $5M if it has been in continuous operation for less than three years; or
Average revenue of at least $6M for the last three years.

Nasdaq-listed securities have historically not been regulated as "penny stocks" (which subject broker-dealers trading in them to additional disclosure and other requirements) because of the exception for securities registered on a national securities exchange that, among other things, required a minimum bid price of $4 per share at initial listing. NYSE Amex benefits from a "grandfather" exception that permits lower initial prices. With Nasdaq's new alternative listing standards, it can compete with the NYSE Amex for listings in the $2-3 range. However, it is possible that companies listing under these lower standards may become "penny stocks."
- See more at: http://www.lexisnexis.com/legalnewsroom/securities/b/securities/archive/2012/04/27/new-nasdaq-2-3-initial-price-listing-standards.aspx#sthash.i5siLDn8.dpuf