Ah…. Let me educate you, since you couldn’t articulate a coherent response.
The primary regulator that defines penny stocks and oversee exemptions are the U.S. Securities and Exchange Commission (SEC)
How a company becomes exempt:
Minimum price: The stock's closing price is above $5 per share.
Average revenue: The company's average annual revenue is at least $6 million over the last three years.
Net tangible assets: The company has net tangible assets exceeding $2 million after being in continuous operation for at least three years, or $5 million if they have been in operation for less than three years.
RITE met requirements because of Net Tangible Assets
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