Ok - interesting day for the company i think many misunderstand whats going on here.
Addressing listing requirements for the NASDAQ, the NASDAQ has multiple tiers for listing...yes we meet most of them, personally i think the company will try and list in the NASDAQ global market which is for mid cap shares....see below. And please for god sake, do your own research.
The company is clearly eligible to list via the below requirements, id suggest equity standard or income standard.Nasdaq Global Market
To get listed on the Nasdaq's Global Market, the section for companies with midrange capitalization, a company must have at least 1.1 million unrestricted publicly held shares. The bid price for these shares must be $4 with at least 400 unrestricted round-lot shareholders.
If a company meets these standards it must also meet one of the following criteria:
• The Income Standard
The income from continuing operations before income taxes in the latest fiscal year, or in two of the past three fiscal years, must be at least $1 million.
The company must have stockholders' equity of at least $15 million.
The market value of the unrestricted publicly held shares must be at least $8 million.
The company must have at least three market makers.
• The Equity Standard
The company must have stockholders' equity of at least $30 million.
The market value of the unrestricted publicly held shares must be at least $18 million.
The company must have at least three market makers.
The company must have been in continuous operation for at least two years.
• The Market Value Standard
The company must have a market value of all listed securities worth at least $75 million.
The market value of the unrestricted publicly held shares must be worth at least $20 million.
The company must have at least four market makers.
• The Total Assets Standard
The company must have total assets worth at least $75 million.
The company must have total revenue in the latest fiscal year or in two of the past three fiscal years of at least $75 million.
The market value of the unrestricted publicly held shares must be worth at least $20 million.
The company must have at least four market makers.