Replies to post #45927 on CV Sciences Inc (CVSI)

[Vandalayind]

I don't buy the argument from BC that the Nasdaq needs to see 2 quarters of enhanced accounting oversight before they decide. As long as adequate controls are in place, that's acceptable.

You're right, they want 2 years worth of audited financials...The most recent 2 years...not very adequate.

[Vandalayind]

Then there is this.

https://listingcenter.nasdaq.com/Material_Search.aspx?cid=34&mcd=LQ


Yes. As part of initial application process, each company completes a Corporate Governance Certification Form and submits this form along with its Listing Application. The form certifies the company's compliance with Nasdaq's requirements relating to the audit committee, the director nominating process, the determination of officer compensation, board composition, executive sessions, quorum and code of conduct. This form can be completed electronically after logging in to the Listing Center.

Once listed, companies do not need to submit annual certifications, but must update the form if a change in the company's status results in the prior certification no longer being accurate. For example, if a company indicated on its certification that it was not subject to a requirement because it was a controlled company, that company must submit a new form if it ceases to be a controlled company. Similarly, a Foreign Private Issuer that relied on an exemption in its certification would have to file a new certification if the company ceased to be a Foreign Private Issuer. To submit an updated Certification Form once the Company is already listed, log in to the Listing Center and complete a Company Event Notification Form.

Publication Date*: 5/23/2013 Mailto Link Identification Number: 400

Oddly CVSI was not aware of an internal accounting issue until 8 months after they filled out the paperwork for NAS saying they were aware of the requirements.