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.
MUL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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