drug pi-88, melanoma; how good is it?, page-10

re: upgrade to adr, level 1 Were,

No, just a "pink slip" or OTC (Over the counter).
PGLAF has 5 letters. That will be changed to 4, once they relist.

Once they have been on the Nasdaq for a while it is easy to change that. Easier still when the stock is over $2.

To be in levels 1 or 2, there is a minimum ADR price when started. I believe it could be $US5.

That is about $A 6.50.

Say the PGL share is about $A2.75 at time of listing.

In that case 1 ADR= 3 PGL shares.

In the US, the term ADR (=American Depository Receipt) is not used in trading. They use the word "shares".

Assume that 2000 ADR's were sold. You will read "2000 shares" although 4000 PGL shares were actually sold.

I think that PGL has risen quite fast and while anything below $1A is ok as an OTC, it just doesn't get the same exposure.

US News organs are scanning the level 1 and level 2 boards all the time.
It also achieves much greater status.

I have more on this and will look for it tomorrow.

Gerry