Hi raymona00,
The number of PRR shares in the market is 699,045,809 according to their Appendix 3B announcement on 22-Jun-2010.
Taking the currency conversion rate of 0.85 USD per 1 AUD,
and considering your understanding of USD 100 million market cap. for a NASDAQ listing, the share price would need to be at:
( 100,000,000 / 0.85 ) / 699,045,809
which is:
AUD 0.1683 per share
The recent dip in the price might be a bit far off from the 17 cent mark, but, given the recent price fluctuations, it is possible within a short to medium term.
If PRR is indeed aiming for a NASDAQ listing, I would imagine that they would wait until the patient recruitment has started and hope that the market cap. nudges over the USD 100 mil mark.
Cheers,
Jai.
Hi raymona00,The number of PRR shares in the market is...
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