Ann: ASX Confirms G Medical Delisting, page-327

The following is part of Section 2.2 of the Anns -"NOTICE OFEXTRAORDINARY GENERAL MEETING" (dated 21/08/2020):

2.2 Key reasons for seeking approval for Removal and related advantages
(a) Intention to list on NASDAQ
(i) In October 2018, the Company announced its intention to undertake a public
offering in the United States via the issue of Shares (NASDAQ Shares) to raise
up to A$34,984,607 (before costs) (US Public Offer) in connection with its
proposed listing on NASDAQ. The NASDAQ Shares were to be issued as
American Depositary Shares (ADS) to participants in the US Public Offer.
(ii) The Company had determined that the issue of the NASDAQ Shares would
exceed its 15% placement capacity and, in April 2019, the Company obtained
Shareholder approval pursuant to Listing Rule 7.1 to issue the NASDAQ Shares
at a price of not less than A$0.20 (Floor Price).
...
...

So in 2018 the company initially intended to raise A$35m in US Public Offer, and later gave up due to then company's situation as well as the capacity restrictions (and its asx sp connection) instead went with OTC listing (GMMVF) in the end without raising expected money. Two years later now asx delisting is almost certain and the company seems making good progress in US market. All become interesting/achievable (in ipo) again plus it's single listing this time! As August patient numbers/revenues are not published/confirmed yet, my following prices/shares estimate is purely speculating (exercise) as well:

After 2 years, assume GMV now needs to raise more than A$35m, say A$40m this time, approximately ~US$30m. As many already pointed out that the minimum Nasdaq listing SP is US$4.00. So GMV US IPO will have to issue at least 7.5m new shares. Current GMV ASX total SOI is circa 838.8m, assume a 100:1 consolidation ratio, it will become circa 8.4m shares.
So if:
IPO price IPO shares Existing/old shares(after 100:1 consolidation) Total SOI New Mktcap
US$4.00 7.5m 8.4m 15.9m US$63.6m(A$87m)
US$6.00 5m 8.4m 13.4m US$80.4m(A$110m)
US$10.00 3m 8.4m 11.4m US$114m(A$156m)
US$15.00 2m 8.4m 10.4m US$156m(A$214m)
......

Using AUD/USD= 0.73 exchange rate:
US$4.00 IPO is equivalent to the current sp A$0.055;
US$6.00 IPO is equivalent to the current sp A$0.082;
US$10.00 IPO is equivalent to the current sp A$0.137;
US$15.00 IPO is equivalent to the current sp A$0.205;
......

All are speculative based on the assumption of US$30m IPO plus a 100:1 consolidation on ASX total current SOI (different assumptions can easily change the sp projection). Also depending on US macro environment at the time of IPO and more critically the confirmed patient numbers and revenues by then!
(i personally think Nasdaq listing approval should have no problem, it's the timing of IPO in US is tricky. Anyway not long now!)