Replies to post #2555 on Integral Technologies Inc. (fka ITKG)

[gobaby]

To get a listing the stock has to trade above a certain price for fron 10 to 60 days. I ask IR aboout this about 6 months ago, but I can't rember how long it was.

[nysepick]

PLF,
Excellent question. As you know, the Securities Exchange Commission regulates the three major indices (NYSE, NASDAQ and AmEx) as well as other securities and commodities exchanges.

The requirements for applying to the NASDAQ depend on the size and value of the applicant company. Also, once listed, there are other requirements to stay listed. Failure to meet them usually means delisting.

There are three standards for applicants who must meet any one of the three standards. Our profile exceeds most of Standard Two and nearly exceeds most of Standard Three. Here is where we meet or fail the listing standard to apply to NASDAQ.

1. Shareholders’ Equity: Meet. We exceed the $30 million minimum.
2. Market Value of listed securities, etc.: Not applicable.
3. Income from continuing operations: Not applicable.
4. Publicly held shares: 1.1 million minimum. Exceeds.
5. Market Value of Publicly held shares: Exceeds the $18 million minimum.
6. Bid Price of $5 for ninety consecutive trading days prior to application: Fail.
7. Shareholder Minimum of 400: Exceed.
8. Three Market Makers: Exceed.
9. Two-year Operating History: Exceed
10.Corporate Governance: Fail.

So, we can't yet meet the bid price of $5 for 90 straight days prior to applying to the NASDAQ. Also, several NASDAQ Rules (4350, 4351 and 4360) applying to corporate governance can't be met.

Rule 4350 among other things calls for annual shareholders’ meetings (bring it on), independent directors on the Board of Directors and an Audit Committee.

So you see, PLF, we aren't there yet, but we are close. The corporate governance issues are expected to be resolved shortly. The bid price will need a purchase order or two!
Cheers