Replies to post #364349 on Innovation Pharmaceuticals Inc (IPIX)

[sunspotter]

"Did IPIX meet the NASDAQ additional requirements?"

It didn't have to, because they are not in fact requirements.

Easy to check that here:


https://listingcenter.nasdaq.com/assets/initialguide.pdf

I'm sure Leo checked in 2015 before he issued this PR:

"the Company is actively moving forward with its intentions to uplist to the NASDAQ exchange and is meeting today with its legal counsel, K&L Gates (www.klgates.com), to review the Company’s application for a move to the senior exchange."

http://www.ipharminc.com/press-release/2016/11/16/cellceutix-plans-clinical-trial-in-patients-with-ulcerative-proctitis

After all, it would be careless not to check, wouldn't it?

Look at all these benefits!

"The Company believes that being listed on the New York Stock Exchange or NASDAQ will serve many valuable functions, including allowing large funds and institutions to invest who are otherwise not allowed to invest in OTC-listed companies, increased stock liquidity."

[loanranger]

"Did IPIX meet the NASDAQ additional requirements?"

The requirements you quote are for the Nasdaq Global Select Market, not the exchange that the Company applied to join (the Nasdaq Capital Market).
The NCM has much less stringent initial standards (see the LINK).

At various times the Company met all of the individual standards but it failed to meet them all at the same time.
At one point it could have EASILY met the Market Value standard with a closing price of $2 and net tangible assets of $5 million merely by putting the required number of shares to Aspire.
(The bid price was over $4 for a month at the end of 2014...."December to be Momentous Month in Company’s History".)

The CEO never explained why he didn't see fit to do that.


https://listingcenter.nasdaq.com/assets/initialguide.pdf
https://www.sec.gov/Archives/edgar/data/1355250/000147793215001033/ctix_10q.htm
https://www.sec.gov/Archives/edgar/data/1355250/000147793215002993/ctix_10q.htm
https://www.sec.gov/Archives/edgar/data/1355250/000147793215005843/ctix_10k.htm