Toby on MOBL 6/20/06...
We do expect that MobilePro will upgrade its stock listing to either Nasdaq or possibly another exchange (perhaps the London AIM) during this year. Focusing on Nasdaq, there are a series of listing requirements spanning numerous items, including shares outstanding, number of shareholders, insider ownership, operating income, share liquidity, revenues, market value, total assets and, of course, share price.
As part of its efforts to attain a better listing, MOBL would reverse-split its stock, which would compress its shares outstanding and raise its share price. For an initial listing on the Nasdaq National Market, a minimum bid price of $5 is required; for the Nasdaq Small Cap it is $4. This means MOBL would have to do a reverse-split between roughly 1-for-20 and 1-for-40.
MobilePro's management is unusually sophisticated for an OTC Bulletin Board company and they are undoubtedly exploring multiple routes to improve their listing status in lockstep with bettering their overall capital structure. And it would not completely surprise us if MOBL ended up taking an alternate route from the typical Nasdaq path. In any case, we hope to learn more about their initiative soon.
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