for long term charters, page-4

Cyberio,

You are correct in saying that, to be considered for a Nasdaq listing, the share price must be US$1.00 (or better). In determining this, the Nasdaq will also look closely at:
1)
business performance, business viability and net asset base, and future prospects;
2)
sustainable share price above US$1.00; and
3)
sufficient demand for the stock in the USA to make a tradable market.

The US$1.00 rule can equally be satisfied, however, through the issue of ADRs which reflect some multiple of the underlying ordinary shares.

One European based, and dual Nasdaq company that I am invested in has its ADRs traded on the Nasdaq in a 10:1 ratio.

I first started investing in that particular stock when the share price was US$40B.

So it can happen, but the key is liquidity, marketability and sustainability. It will take time. So, the OTC benchmark is to test the market waters, followed (if positively received) by a likely Nasdaq listing sometime mid-2005.