Thanks frrol... That is what BK has been saying I think and what we've been expecting. Hoping for the former of course but think either will work in our best interests knowing Leo! Let the good times roll...
Well, considering a month ago, with a similar share price, Leo was in no hurry to up list due to concerns over dilution, something has changed...though not sure exactly what.
Nasdaq Capital Market (Market Value of Listed Securities Standard*) This is on Page 9 on the document here: https://listingcenter.nasdaqomx.com/assets/initialguide.pdf We have had the closing price of $2, and the Stockholders’ Equity of $4 million, but lacked the net tangible assets of $5 million.
In a post a couple months ago I stated: "CTIX has raised enough cash via Aspire to meet the shareholder equity requirement of $4 million. So, I guess if they want to go to the Nasdaq bad enough, they could raise cash via Aspire to get net tangible assets of $5 million, which looks like it does not require operating history. They would need to raise at least an additional $4 million via Aspire after Oct 27." http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108199650
$11 million is up from the $7 million last quarter. So the dilution has already been done. Leo has raised enough money via Aspire to meet the Nasdaq requirements. IMO the dilution he did was well worth it to go to the Nasdaq.
thought the same when I read this morning that they are meeting "TODAY". ..that was way different then what they said a month ago in the presentation..that was the best info from the PR ( for me).. Actual "in real" time event..
The 4 dollar PPS requirement is going to be the toughest feat. If there's further dilution, sustaining 4 could be an even longer shot. They have one other option than the Nasdaq and that's the NYSE Amex market. It's still an upgrade from where they are and has less "minimum" requirements than the Nasdaq.
I think a partnership deal is more likely once Phase 3 is underway. Leo said that he will not dilute heavily just to uplist. Raising $55M at the current SP from the shelf qualifies as heavy dilution IMO.