GMV (ASX) Ann: Acquisition of Telerhythmics LLC

Originally posted by axbci: ↑

Over the years, quite a few of the companies that we follow/followed have received delisting notices from the Nasdaq Markets. The number one reason: failure to comply with the Nasdaq's minimum bid price requirement. So, what is this requirement? How does it come into effect? What can the company do about it?

What is the requirement?
The minimum bid price requirement stems from Section 5550(a)(2) of the Nasdaq's Equity Rules guide. It clearly states: "(a) Continued Listing Requirements for Primary Equity Securities:(2)Minimum bid price of at least $1 per share."

How does it come into effect?
If a company closes below a $1/share bid price for 30 consecutive days, the Nasdaq sends the company a written notice. The notice states that the company is no longer in compliance with its continued listing requirements and has 180 days to regain compliance. Otherwise, the company will face delisting.

So with that said what do you all think of the current share price and why i think the Nasdaq listing is the most important thing for us in the next 12 months. Yes a lot needs to happen between now and then to achieve that, such as MOUs and other contracts turning agreements into revenue, but I'm sure our management team isn't sitting on their hands.

Remember, this is a dual listing:

WHAT IS 'Dual Listing'
Dual listing refers to a listing of any security on two or more different exchanges. Companies use dual listing because its benefits, such as additional liquidity, increased access to capital and the ability for its shares to trade for longer periods if the exchanges on which its shares are listed are in different time zones outweigh the costs of a second listing. Some exchanges have a number of listing categories for companies that seek a dual listing, each with different requirements and benefits.

So knowing all this and with the announcement of the dual listing to occur in the first half of 2019, are we seriously still saying that the share price has the Nasdaq listing priced in? Maybe i missed something....

Our current sp is = 24c US. We have a long way to go to reach the minimum $1.00. Do the math. At $1US is 1.38AUD. The share price has a long long way to go to reach the minimum requirements.

What an amazing, fast paced and exciting few months we have ahead of us.

Expand

For who is interested in a dual-listing on NASDAQ:
https://www.investopedia.com/ask/answers/nasdaq-listing-requirements/

The regular bid price at the time of listing must be 4$. That does not mean the the ASX-listed one must be 4$ as well. I think it depends on the MC. GMV on ASX has 350 million shares for 33c per share with MC of 120 millions. So, at the same price per share (33c) they need 100 million shares for listing on NASADQ for 4$ per share.
Am I wrong? please correct me