Thanks for your thoughtful and well-written post. I surmise you are more familiar with the market listing requirements than others who post on here and do not understand how a RS is beneficially used to uplist.
Singlepoint’s intent would be to uplist to the Nasdaq Capital Market for small cap stocks.
The revenue requirements for the Capital Market are different from the other 2 Nasdaq Markets. As you will see, the revenue requirement is only $750,000 in the past fiscal year, so SING will meet and bypass that in 2019. The key will be stockholders equity of at least $4,000,000. That should also be satisfied and exceeded by year end.
The only hindrance is the stock price...$4.00 per share. As you accurately stated, once Singlepoint has satisfied all but the share price requirement to list on the Nasdaq Capital Markets, they can enact a RS to satisfy the final requirement.
Here is a reference to the listing requirements for the Capital Market:
A Company applying to list its Primary Equity Security on the Capital Market must meet all of the requirements set forth in Rule 5505(a) and at least one of the Standards in Rule 5505(b).
(a) Initial Listing Requirements for Primary Equity Securities:
(1) (A) Minimum bid price of $4 per share; or
(B) Minimum closing price of $3 per share, if the Company meets the requirements of the Equity or Net Income Standards under Rules 5505(b)(1) or (b)(3), or of $2 per share, if the Company meets the requirements of the Market Value of Listed Securities Standard under Rule 5505(b)(2), provided that in either case the Company must also demonstrate that it has net tangible assets (i.e., total assets less intangible assets and liabilities) in excess of $2 million, if the issuer has been in continuous operation for at least three years; or net tangible assets in excess of $5 million, if the issuer has been in continuous operation for less than three years; or average revenue of at least $6 million for the last three years. A security must meet the applicable closing price requirement for at least five consecutive business days prior to approval.
For purposes of this paragraph (B), net tangible assets or average revenues must be demonstrated on the Company's most recently filed audited financial statements filed with, and satisfying the requirements of, the Commission or Other Regulatory Authority, and which are dated less than 15 months prior to the date of listing.
(2) At least 1,000,000 Publicly Held Shares;
(3) At least 300 Round Lot Holders;
(4) At least three registered and active Market Makers;
(5) In the case of ADRs, at least 400,000 issued.
(b) Initial Listing Standards for Primary Equity Securities:
(1) Equity Standard
(A) Stockholders' equity of at least $5 million;
(B) Market Value of Publicly Held Shares of at least $15 million; and
(C) Two year operating history.
(2) Market Value of Listed Securities Standard
(A) Market Value of Listed Securities of at least $50 million (current publicly traded Companies must meet this requirement and the price requirement for 90 consecutive trading days prior to applying for listing if qualifying to list only under the Market Value of Listed Securities Standard);
(B) Stockholders' equity of at least $4 million; and
(C) Market Value of Publicly Held Shares of at least $15 million.
(3) Net Income Standard
(A) Net income from continuing operations of $750,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years;
(B) Stockholders' equity of at least $4 million; and
(C) Market Value of Publicly Held Shares of at least $5 million.
I know there will be those who freak out when I mention a RS....but they are used to dealing with companies that RS to STAY listed......not with a company that is enacting a RS to INiTIALLY LIST on a far more prestigious and beneficial market like the Nasdaq Capital Market.
Getting on Nasdaq opens the door to analyst coverage, institutional investors, and greater numbers of retail
investors. Nasdaq or OTC....I know which one I would rather have my company listed on.
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