Hi raymona00,
The number of PRR shares in the market is 699,045,809 according to their Appendix 3B announcement on 22-Jun-2010.
Taking the currency conversion rate of 0.85 USD per 1 AUD,
and considering your understanding of USD 100 million market cap. for a NASDAQ listing, the share price would need to be at:
( 100,000,000 / 0.85 ) / 699,045,809
which is:
AUD 0.1683 per share
The recent dip in the price might be a bit far off from the 17 cent mark, but, given the recent price fluctuations, it is possible within a short to medium term.
If PRR is indeed aiming for a NASDAQ listing, I would imagine that they would wait until the patient recruitment has started and hope that the market cap. nudges over the USD 100 mil mark.
Cheers,
Jai.
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