GREY:XEBEQ - Post by User
Post by
tamaracktopon Jun 01, 2021 2:09pm
300 Views
Post# 33304112
Ciao's observation is correct, and warrants scrutiny
Ciao's observation is correct, and warrants scrutinyThese 2 new directors were never "announced". I find that a bit strange. Xebec hasn't been gushing news lately, so why would they keep that quiet?
The company appears to be getting "top-heavy" in terms of the numbers of directors.
Lets think abou that.
First I ask you to read this excerpt from my post of May 27th:
There it is, looming right ahead. There is a wall of technical resistance between $5.40 and $5.50.
It's going to take the market equivalent of a nuclear bomb to penetrate it. I doubt very much it can do it solely on the strength of what is already news in the public domain.
Xebec is the type of stock that can make a terrific move as a result of news out-of the blue. News that takes the market by surprise.
If you look at the Nasdaq Capital Markets-Guide for Application, this is one of the prerequisits for listing:
The company’s board of directors is required to have a majority of independent directors.
I'm wondering if the company is actually preparing to uplist. If so, here's an excerpt from the Nasdaq listing application forms describing the timeline of the process:
Listing Timeline:
While it generally takes four to six weeks to process a listing application, this time frame is variable and may be shortened considerably, if the application raises no issues and the company responds quickly to Staff comments. Week 1. Company submits application for listing and Nasdaq Listing Qualifications Staff begins its review. Weeks 2-3. Staff completes its preliminary review and prepares comment letter. Weeks 3-4. Company addresses any issues raised by Staff. Weeks 5-6. Staff completes their review and company is approved for listing.
Who knows? An uplisting announcement is certainly not out of the question.
I would think that would qualify as a market equivalent of a nuclear bomb.