RE:Private investor on call Operator
We will now take our next question from Michael Eisner. Please go ahead, your line is open.
Michael Eisner
Hi, Great. Great quarter there.
Casey Hoyt
Thank you.
Michael Eisner
All right. One question, maybe it's two parts. Why it's so long to apply for NSADAQ and do you what percent of your shareholders are U.S.?
Todd Zehnder
Well the process to get listed on a U.S. exchange really starts with from our perspective of becoming an SEC registrar, and so that is what is driving that. We're not going to stay a Canadian registrar and list in the U.S. We're actually going to become an SEC registrant and move both of the listings as our - keep our Canadian listing and U.S. listing whichever that may be as a U.S. SEC Company.
And the second part is the percentage of shareholder, we run that number once a year from a geographic perspective. And right now my guess would be just knowing some people that are coming in and out, I would say maybe 30% of our shareholder roughly 30%, 35% are U.S.
Michael Eisner
Back to the first part, you haven't answered why one or two years, does it really take that long?
Todd Zehnder
Well, I mean to go through an SEC registration process is a long period of time. So once we decide that we're going to move to that, take that move, it does take a long period of time.
Michael Eisner
To plan and starting that now?
Casey Hoyt
We are an initial discussions on that process now. But that's all on I am going to comment on it because until we actually make the application, we're going to - we're just going to tell we're putting a long range out there?
Michael Eisner
Okay. Thank you.
Operator
That concludes today's call. Thank you for your participation. You may now disconnect.