RE:RE:RE:RE:RE:RE:RE:RE:Whalewatcher1 when you're going for the jugular don't miss!No No No No! Let me try this one more time and then I'm done with it. THERE IS NO LOOK BACK FOR A VALUATION OF ALGERNON. THE $15M USD VAUATION COMESAT THE TIME OF THE UPLIST.
MEANING, AN IPO (CAPITAL RAISE) THAT PUTS ALGERNON AT MINIMUM $15M USD MARKET CAP IS WHAT"S REQUIRED. HERE"S SIMPLE MATH AGAIN:
$15 million ÷ 1,678,809 (Outstanding Shares) = $8.94 per share
THUS, THE QUESTION IS HOW MUCH MONEY DOES ALGERNON WANT TO RAISE FOR THE IPO TO MEET OR EXCEED A MINIMUM $15 USD MARKET CAP?
AT THE CURRENT OUTSTANDING SHARES $8.94 = $15M USD MARKET CAP.
THUS, IF ALGERNON DOESANN IPO @ $9PER SHARE THEY WILL EXCEED THE MINIMUM $15M USD REQUIREMENT.
I ALREADY LAID OUT MY NUMBERS FOR AN IPO EWHICH IS THE FOLLOWING:
I believe they should IPO for no less than $30 USD per share.
$50M USD minimum market cap.
$10M USD capital raise.
2 million shares total outstanding.
Anything less than $30 USD IPO and/or dilution above 2M outstanding will further cut shareholders to the core before any positive catalysts from real world data.
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What you fundamentally fail to understand is thye Nasdaq is not the CSE or OTC penny stock crowd. Nasdaq has sophisticated investors who can do math and understand the value of a company IRRESPECTIVE of the clowning around that goes on at CSE and OTC. There is no binding agreement between the exchanges. Which gets to the second point about the bankrupt company I referenced.
You are wrong again in your assumptions. I TOLD YOU THEY WENT FROM A BANKRUPT COMPANYTRADING AT .003 CENT (DOES THAT SOUND LIKE THEY WEREN'T ALREADY ON AN EXCHANGE?) AND INSIDE OF ONE YEAR AT 3.5 BILLION SHARES OUTSTANDING THEY DID A 1 FOR 4000 REVETRSE SPLIT - APPLIED TO NASDAQ AND GOT ACCEPTED FORC AN IPO IN !) DAYS OF THEIR APPLICATION. THEY UPLISTED WITH A CAPITAL RAISE OF $23M USD @ $12 PER SHARE. IT GOT BID UP TO $14. THE STOCK SUBSEQUENTLY FELL OFF STILL AWAITING THE START OF THEIR FIRST PHASE 2 CLINICAL TRIAL. HOWEVER, THEY UPLISTED. GO FIGURE!
I'll give it a rest at this point and watch what happens between now and the end of January. IF they haven't given any updates about a successful uplist by then - then I'll start sounding the alarm bells.