The listing of the Company’s common shares remains subject to the approval of NASDAQ and the satisfaction of all applicable listing standards, including the minimum share price requirement.
OR -- the stock has to do a moonshoot (highly unlikely)
I'm not well versed in the up-listing process but from what little I know I don't see how they will meet all the requirements. Anyone who knows -- feel free to educate me (and all the loyal thread readers). I believe the minimum share price for up-listing to NASDAQ is $4.00
Whatever -- as they say --> "As more information becomes available, the Company will update the progress on its intended up-listing accordingly."
In all my years of trading I've never had one of my OTC stocks up-list to the NASDAQ market, although I recall one that made a similar announcement but its stock price was much higher -- over $5.00 per share when they announced. Even so it failed to meet the requirements.
One thing is certain -- so far, this news has not generated any buying interest as I see ZERO volume today on a bid/ask of .36 X .47 (that's a 30% spread!)
Like I said in this post This should get interesting between now and the end of the year.
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