Post by
bball67 on Oct 07, 2021 11:59am
NASDAQ Listing
Here is my understanding. Today the CN market cap of Promis is $82M (432M shares at $.19CN) and that is above the threshold of $75M CN market cap that enables a Canadian issuer to make an application through the MJDS system to become a eligible for a US listing. The MJDS system was created for Canadian issuers to avoid reconciliation to US GAAP (accounting) requirements. They most likely have already done this and have been approved by the SEC for listing, otherwise I don't think they would have done the press release and scheduled a special meeting. They would need to meet the NASDAQ per share listing requirements of a bid price of $4 per share. The price can be lower than this based on some complicated number of market makers rules, but I would assume $4.
Comment by
DavidKingCanada on Oct 07, 2021 12:12pm
Bball, do you expect the SP to gain significantly before any sort of consolidation? At around 0.25 we have a $100,000,000 Marketcap.