Algernon Pharmaceuticals Inc. C.AGN

Whalewatcher1 when you're going for the jugular don't miss!

[C10H12N2]

Whalewatcher, you need to understand Nasdaq is a 3 Tiered system. Algernon qualifies for an uplisting under "The Net Income Standard". Another big misunderstanding about uplisting is the belief a stock needs to trade above a certain price BEFORE it's eligible to uplist. For example - XYZ company must trade at $4 USD for X number of days or month(s). That's not true for ALL tier levels. The Net Income Standard" only requires the stock to be listed at $4 or better and/or close at $3 or better upon uplisting. There is no look back period for the prior trade price. One has to think why would Algernon (the company) pay a $50,000 USD fee to apply for Nasdaq and not know if they qualify? Pack a lunch for anyone who can prove me wrong with verifiable facts like these:

TheStreet

SEP 18, 2019 12:10 PM EDT

ERIC REED

What Are the Listing Requirements for Nasdaq?

Nasdaq Listing Requirements

Companies listed on Nasdaq must meet two standards. First, they must pass the exchange's general requirements. These apply to every company listed to trade on the Nasdaq exchange. Then, the company must meet one of the requirements for listing on one of the exchange's three market tiers:

• The Nasdaq Capital Market (small capitalization)

• The Nasdaq Global Market (midrange capitalization)

• The Nasdaq Global Select Market (high capitalization)

A company will qualify for listing under one of these tiers; each has its own set of escalating restrictions

General Requirements for Nasdaq

To appear on the exchange, every company must meet the following conditions:

• Nasdaq's criterion for corporate governance, including publicly available shareholder reports, a majority of independent directors on the board, an independent audit committee, an independent committee for the compensation of executives and a uniform code of conduct for all officers and employees.

• The company must meet Nasdaq's conditions for shareholder approval of securities issuances.

• If the company was trading its stock on the over-the-counter market prior to listing, it must have had a trading volume of at least 2,000 shares over the 30 days prior to listing OR a firm underwritten public offering of at least $4 million.

Nasdaq Capital Market

To get listed on the Nasdaq's Capital Market, the section for those with smaller capitalization, a company must have three market makers. It must have at least 1 million unrestricted publicly held shares with at least 300 unrestricted round-lot shareholders. The bid price for these shares must be $4 or, under certain circumstances, have a closing price of between $2 and $3

• The Equity Standard

The company must have total stockholders' equity of at least $5 million.

The market value of its unrestricted publicly held shares must be worth at least $15 million.

It must have operated for at least two years.

• The Market Value Standard

The company must have a total stockholders' equity of at least $4 million.

The market value of its unrestricted publicly held shares must be worth at least $15 million.

The market value of its total listed securities must be worth at least $50 million.

• The Net Income Standard

The company must have a total stockholders' equity of at least $4 million.

The market value of its unrestricted publicly held shares must be worth at least $5 million.

The net income from continuing operations in either the past fiscal year or two out of three of the past fiscal years must be at least $750,000

https://www.thestreet.com/investing/nasdaq-listing-requirements-15092402


I believe Algernon has the worst performing management team of the last 5+ years, but I don't use that opinion for half-cocked criticism. When I come for the King's Head (management/metaphorically speaking) I usually don't miss!