RE:RE:Bull ThesisAt 1:10, with a resulting price of $3.50 CAD, they would meet the requirements of the Nasdaq Capital Market tier, using the $2 USD closing price standard under Nasdaq Rule 5505 (a) (1) (B). $3.50 CAD = $2.63 USD. I'm fairly certain they meet all the other requirements of that standard.
The issue is, they wouldn't have very much cushion above the $1.00 delist price by making their entry using the price standard of Nasdaq's lowest tier.
https://listingcenter.nasdaq.com/assets/initialguide.pdf See p. 10.
RalphRalph wrote: They need some kind of impactful news to move share price in order to uplist to the NASDAQ. Even with a 10:1 consolidation, they wouldn't meet the minimum share price requirement at current price level.
Another bought deal would be terrible. Rather than continued dilution, they need to start monetizing assets.
MasterAlgae wrote: The reverse will be 1:10 One share for ten.
SternIR has been hired to drum up awareness for that eventuality, which is ready to go.
My guess is that it will be this year. There are about 90 business days from now to year end.
Once the NASDAQ and TSE listing happens, (yes we'll be off the TSXV) then SternIR's work will become evident.
There will follow a sucession of news releases that will generate interest in otenaproxesul (which should have a Wikipedia page IMO - but doesn't).
So, I'm guessing one of the releases immediatley following the NASDAQ listing will be a pronouncable name of the drug. Maybe before?
Then - a bought deal raising $35 million.
That's my nickel's worth...