Nasdaq qualification is metPYR does indeed qualify right now for NASDAQ uplisting based on the formal rules. Explanation below.
By the way, the official rules and criteria are not that hard to find, so it's exasperating that anyone would ask that on here rather than merely look it up. It takes less than 5 minutes to look it up and read it all. Here are the formal rules:
https://listingcenter.nasdaq.com/assets/initialguide.pdf To explain how they qualify: There are three tiers via which you can apply and eventually be listed:
The Nasdaq Global Select Market
The Nasdaq Global Market
The Nasdaq Capital Market.
For each, applicants must satisfy certain financial, liquidity and corporate governance requirements.
At the current point in time, due to their size/earnings/assets/etc, PYR seemingly best meets the third tier, "Nasdaq Capital Markets".
ALL TIERS initially require a USD$4 share price to qualify.
BUT the "Nasdaq Capital Market" tier allows the ability to meet "alternative criteria" if the company does not have the USD$4 share price. Those alternative criteria are:
(i) average annual revenues of $6 million for three years, or
(ii) net tangible assets of $5 million, or
(iii) net tangible assets of $2 million and a 3 year operating history
1) PYR cannot meet the average annual revenues of $6MM for three years (they surpassed it in 2020, but 2019 was $4.8MM and 2018 was $5.0MM)
2) PYR CAN meet the net tangible asset criteria.
Net tangible assets (NTA) is calculated as totals assets minus intangible assets minus liabilities.
Historically, PYR's net tangible assets (NTA) have been slightly in the negative.
But thanks to their strategic investment in everyone's favourite little quebec silicon company HPQ, PYR's NTA has swung into positive territory, big time From the Q3 balance sheet:
Total assets: 39,738,377
(thanks to the strategic investment increase of 23,539,814 from owning HPQ shares)
minus Intangible assets: 910,034
minus Liabilities: 16,231,974
= 22,596,369 net tangible assets. So PYR does indeed already qualify for NASDAQ listing without having to reach the $4 threshold. Finally, PYR could also very easily still reach the USD$4 threshhold ANYWAY, rendering this alternative criteria not required.