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Re: Critical: NAVB share price settles ($54mm) on 10-12-2018 above key $50mm market cap threshold to maintain NYSE (American) listing. Staying above mitigates mandatory R/S by Feb 14, 2019! disinformation being posted Hack, The guide is located here. The Suspension and Delisting part of it: http://wallstreet.cch.com/Americantools/PlatformViewer.asp?SelectedNode=chp_1_1_10&manual=/american/CompanyGuide/american-company-guide/ I didn't see anything about a 30 day time line in the section "Suspension and Delisting." It does say this about time lines: "The specific procedures and timelines regarding such proposals are set forth in Section 1009. However, the standards set forth below in no way limit or restrict the Exchange in applying its policies regarding continued listing, and the Exchange may at any time, in view of the circumstances in each case, suspend dealings in, or remove, a security from listing or unlisted trading when in its opinion such security is unsuitable for continued trading on the Exchange. Such action will be taken regardless of whether the issuer meets or fails to meet any or all of the standards discussed below." This is what is says about the 50M Market Cap: "(1) Total value of market capitalization * of at least $50,000,000; or total assets and revenue of $50,000,000 each in its last fiscal year, or in two of its last three fiscal years;" And, this is what is says about low selling price: (v) Low Selling Price Issues—In the case of a common stock selling for a substantial period of time at a low price per share, if the issuer shall fail to effect a reverse split of such shares within a reasonable time after being notified that the Exchange deems such action to be appropriate under all the circumstances. In its review of the question of whether it deems a reverse split of a given issue to be appropriate, the Exchange will consider all pertinent factors including, market conditions in general, the number of shares outstanding, plans which may have been formulated by management, applicable regulations of the state or country of incorporation or of any governmental agency having jurisdiction over the issuer, the relationship to other Exchange policies regarding continued listing, and, in respect of securities of foreign issuers, the general practice in the country of origin of trading in low-selling price issues. -- Not much help there either ;( |
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