Replies to post #82177 on Ocata Therapeutics Inc fka OCAT

[Dragon Lady]

100% incorrect, quote, "$OCAT needed $7 to $8 mil of cash and cash equivalence to list on the NASDAQ Global. How did this happen???
"

The Nasdaq global market DOES NOT have a minimum shareholder positive equity requirement as does the Nasdaq "Capital Market" (CM) tier.

The ONLY requirement for the Nasdaq "Global Market" is the following per the table on page 8 of the below published Nasdaq market "listing requirements":

1) Market Value Of listed securities at least $75 million

2) Public held shares at least 1.1 million

3) Market value of public held shares at least $20 million

4) Minimum share price of $4 a share

5) Minimum number of shareholders at least 400

6) Minimum number of market maker 4

THAT IS IT.

So how did they list on the Global tier? Easy- just read the above requirements. No big deal- they met those requirements so they listed. No mystery here or anything to be implied or whatever? Totally straight forward.

No capital/cash on-hand requirement and no minimum shareholder equity of at least $4 million as on the Nasdaq "Capital Market" tier.

https://listingcenter.nasdaq.com/assets/initialguide.pdf

All right there- in plain English. Clear as day. NO positive shareholder equity requirement for the Nasdaq "Global Tier" (non select). None.

[lasers]

It is possible (1) that the Nasdaq review committee gave credit for the "$18.6 million dollars available to us under our arrangement with Lincoln Park Capital" to meet the the $ mil cash (equity) and/or (2) $OCAT has a JV partner, Pharma and/or Financial, lined up which met the Committee's acceptance.

https://listingcenter.nasdaq.com/assets/initialguide.pdf

Since $OCAT has less than $1 mil revenue, the two cases that $OCAT would be eligible for are IMO:

(1) Equity Standard...Stockholders’ Equity..$30 million

(2)Market Value Standard...Market Value of Listed Securities..$75 million

Which supposedly is different than the current Market Value of Publicly Held Shares for case (1) $18 million and case (2) $20 million respectively. $OCAT current Market Cap=$228 mil.

In the CC, PW completely avoids answering the financing question:

Jason Kolbert: Hi guys. This is actually Jason McCarthy for Jason Kolbert. It sounds like everything is moving in the right direction, and it sounds like the trials are starting up, it's going to be exciting. I wanted to go back to the financials a little bit, and I know it's disappointing to have not gotten a deal done at the end of last year, and if you're going to do it this year, what point in the trial, or how much data do you think you're going to need to kind of drive that forward, and just make it successful this time around?

Paul Wotton: Well, the question really is about the progress we're making on the clinical trial front, and the important thing that we learned over the last quarter. There's a number of things that happened, the first is we have positive data from the Lancet. The second thing is towards the end of December, early part of the year, we started realizing that we'd have to change the way we designed our clinical trials to include control patients, which actually just changed the way that people view our company. We did have a meeting with the European Medicines Agency February 4th of this year, and as a result of that meeting, as well as continued dialogue we've had with other agencies, we have changed the design of both the dry AMD study and the Stargardt's disease study to ensure that we include a control group of patients, which we believe will give us a better outcome. It also harmonizes, we think, the studies between what the FDA will require for approval and what the European Agencies will require for approval, and as we mentioned on the call as well, we are also looking into the possibility of getting a Special Protocol Assessment with the FDA, which will help to de-risk the programs that we are working on and make the approval process more expeditious for us. So what we've tried to do in the past quarter is focus quantitatively on improving the design of our clinical studies.

If PW is completing a "Financial Deal" in Black-Out Period mode than that would explain why he completely avoided the financial question by the analyst Jason Kolbert. Also $OCAT has not released the 10-K yet which may or may not explain the forward financing.