Replies to post #121195 on Innovation Pharmaceuticals Inc (IPIX)

[Waverunner1]

TOB - I'm thinking that the 90 consecutive days only applies to the $4 bid price, not the closing price alternative. (You are absolutely correct on the 5 day requirement @ $2).

* Currently traded companies qualifying solely under the Market Value Standard must meet the $50 million Market Value of
Listed Securities and the applicable bid price requirement for 90 consecutive trading days before applying. (edit by me: note they did not say closing price.... the bid price they are referring to here is the $4 requirement, not the closing price alternative).

** To qualify under the closing price alternative, a company must have: (i) average annual revenues of $6 million for three
years, or (ii) net tangible assets of $5 million, or (iii) net tangible assets of $2 million and a 3 year operating history, in addition
to satisfying the other financial and liquidity requirements listed above.

Cellceutix already met the "90 day consecutive prior to applying for listing."

I haven't read anywhere stated that the company must maintain the $2 price for the application period after applying. Just that it must have the 90 consecutive days minimum closing price of $2 "before applying". Which has already happened.

[nerby]

Five days above $2 prior to approval? I'm curious how Leo & Co will get us there. It'll need to be something that sticks.

[BonelessCat]

Has anyone discussed that the planned first annual meeting as one of 2 major missing elements for uplisting that NASDAQ wants to see? No one discussed that but lots of people think a meeting signals a reverse split? As I see it, the last 2 elements before an uplist, current audited financials and shareholder meetings.

[Autumnforest]

News is out on Phase 2
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