You're welcome. Thanks for clearing that up, I was wondering if I was missing something. ;-)
Well... on topic for TPIV IMO, just a different subject.
I don't want to press this issue too much, as though it's imminent for example, as I don't know what the company has said on the subject. If they haven't discussed it publicly they may just announce it as a done deal. They may also be qualified, but decide the timing is not right. I've no idea.
I did write a fairly detailed post on up-listing to the NASDAQ, that shows it is quite within reach without needing a reverse split. With that said, with a rising share price and good clinical trial results, however they get there is good.
Obviously one big advantage to up-listing is many institutions can only buy stocks that are exchange listed, and often not below $5. Yet, TPIV already has strong institutional ownership, with that increasing as more warrants are exercised. Massive really if you consider just Dart is held just below 50% ownership.
So with such a low public float, where will those institutions find the shares they need? Also some are mandated to buy if and when TPIV is on the Russell for example.
The answer is they have to pay up for them, forward splits, all sorts of good things.
That doesn't mean shares won't be added to the O/S, but... the share structure looks very good now. Again, always assuming good clinical trial results.
Here below is the post in which I detailed the up-listing subject. The key take-away, qualification for the NASDAQ-Capital Market can start with a $2 closing price with the other criteria met.