AB1 (ASX) Animoca raises another $50M USD

Originally posted by frontline1999: ↑

You do realise that a company seeking to list on the Nasdaq can opt for any stock price so long as it is above the minimum price threshold? Animoca could list right now at US$20 per share by way of a stock consolidation, but at a US$1b valuation it would be viewed as a small cap (which would be outside the purview of the major fund managers).

Actually, Animoca cannot list on the Nasdaq or any other decent exchange until it has sorted its audited accounts and corporate governance. For all we know (which admittedly is not a lot), Animoca could have finalised their accounts! Fortunately for us retail that are kept in the dark, they are required to hold an AGM. So until an AGM is held, there is more chance of seeing a pig fly than Animoca listing.

As things stand, even assuming Animoca can meet all the corporate governance criteria, there is still too much regulatory uncertainty in the US concerning blockchain and crypto. Arguably listing on any reputable exchange right now would pose too many risks and would likely preclude Animoca from conducting token sales and associated activities. Yat has mentioned this numerous times.

There may well be some crypto friendly exchanges, but the Nasdaq is not one of them. Hopefully this will change, because the whole industry would benefit from regulatory stability and certainty, but this could take several years.

A Nasdaq listing this calendar year, is a complete non-starter. However, this is not a bad thing. In my opinion, Animoca needs to grow and develop as a company, positioning itself for a Nasdaq or similar listing when the timing is right. This could be 3 to 5 + years down the track, which many holders won't want to even contemplate, but at least it's a realistic timeframe.

Patience is required. Animoca needs to learn to walk, before it thinks about running with the big boys on the Nasdaq.

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Animoca is a cowboy stock, it's management are woeful at the corporate regulation required to meet the IPO and listing requirements of all but the most shoddy of exchanges.

Animoca will need to meet their obligations under the Corp Act by providing audited accounts and holding meetings, and they will need to seek approval from shareholders to actually issue the $158m of stock as well. And that's before they meet any particular requirements of listing on the NASDAQ for example.

There is no way this is listing in the next 18 months to two years. There is mountains of auditing and paperwork, documents to file and I suspect ASIC will be looking very closely at this before long. The higher the profile and ignoring the Corp Act the more likely legal action to comply will be.