Kontrol Technologies Corp N.KNR

PYR's TSX uplist example

[Whydunnit]

This might be a little fuzzy on some of the details, but when PYR uplisted to the TSX as a tech company one of the requirements was that they needed $10M in the treasury, at least half of which had to be from a share issuance.  PYR hadn't done an issuance for years and years so it didn't have that.  Whether or not they had $10M was kind of secondary -- they needed the share issuance part to qualify for listing.  So they did an offering (via oversubscribed bought deal with Mackie IIRC) and were uplisted.  (There's some uncertainty about whether or not the TSX has them listed as a tech or industrial, and whether that is just a paperwork oversight.)  I'm assuming KNR is wanting to uplist to TSX as a tech company, given they're changing their name from Energy to Technologies.  If so, presumably they would need the same $10M/half from share issuance that PYR did.  Not an option but a requirement.  If the company sticks to its policy of minimal dilution, they'd want the market share price as high as possible (fewer new shares needed for $5M + $1) and not want an oversubscription.  Whoever handles the issue for them is going to take a cut too, lowering KNR's take.  Hopefully KNR can meet the requirement (if necessary) with just a million new shares, but the stock price would need to be somewhere in the area of $5.50 when the deal is signed.

[HTNYC1]

Yes Whydunnit, there are some very specific stipulations as you say. The most comprehensive list i could find were these: Shareholders Equity of at least $2,000,000 At least 100,000 shares of public float A minimum of 300+ shareholders Total assets of $4,000,000 At least two market makers $3 minimum bid price of the company stock Public float market value of $1,000

[JohnFriesen]

This post has been removed in accordance with Community Policy

[Whydunnit]

Not really helpful, no.  Maybe this will be: https://www.tsx.com/resource/en/125 Under the column TSX NON-EXEMPT TECHNOLOGY ISSUE: "Cash in Treasury -- Minimum $10,000,000 in the treasury, the majority of which has been raised by the issuance of securities qualified for distribution by a prospectus" Unless KNR has $5,000,000.01 its treasury that can be attributed to a raise by

[Mechanizm]

Haven't you heard? If it's to help Covid then everything gets pushed through and rules don't matter... I must have been dreaming. KNR doesn't have the lobby power of pharma.

[yearninyank]

Wait, what... criticizing Big Pharma? But didn't they sacrifice everything to save us from this pandemic with their magic and free vaccine? I heard they really took a loss but they felt it was worth it. Wait, what?

[HTNYC1]

My apologies. I was talking about the Nasdaq. Perhaps it is more helpful now.