Post by
jsim082 on Oct 24, 2022 11:27am
Cash flow and market value impeding uplist
I have been wondering about the delay in uplisting, and my impression is that the two problems are 1) our cash flow and 2) out market value.
We either need:
1) A pre-tax cash flow of $700,000 in the prior fiscal year. This is required to be an "exempt" company OR
2) A minimum market value of $50,000,000 in order to meet the requirements of a non-exempt technology company.
Reference: https://resourcehub.bakermckenzie.com/en/resources/cross-border-listings-handbook/north-america/toronto-stock-exchange/topics/principal-listing-and-maintenance-requirements-and-procedures
When we submitted for the uplisting, I know they had a market value over 50,000,000 but recently we have been plagued by this damn low share price. I really don't think we can uplist until we can keep the market value above that figure.
Comment by
dirtydzn on Oct 24, 2022 11:30am
We meet the cash flow. I think it's due to market cap thus leading to a 2nd NCIB to try and get it there.