Just spoke to company in US and clarified their advice given in...

Just spoke to company in US and clarified their advice given in the FAQ sheet.
CDIs cannot currently be traded as common stock on NASDAQ after transmutation (conversion) unless the CDI's have been purchased 12 mths or more prior.
After the company has been reporting in US for 90 days then the transmuted CDI's can be trade as common stock on NASDAQ if it is longer than 6 mths since the CDI's were purchased.
In both cases, CDI's can be transmuted at any time and will be held in Direct Registry unless a representation can be given by the share holder that owner ship has been longer than the 6 or 12 months above.

Appears as though the company wasn't clear on this when they approached listing on the NASDAQ. Has required a number of legal opinions to clarify.

It seems, the only way the company can get around this is, as mentioned in FAQ sheet, by "registering" the ?CDI's or the common stock in the US; a process similar to an original issue in the amount of time, effort, and detail required. The company is giving no expectation at all that this will occur; but didn't rule it out entirely.