Hi Top,
Most companies listed on NASDAQ are required to maintain a minimum closing bid price of $1.00 per share.
If a company trades for 30 consecutive business days below the applicable minimum closing bid price requirement, NASDAQ will send a deficiency notice to the company, advising that it has been afforded a "grace period" (90 calendar days for National Market companies and 180 calendar days for SmallCap Market companies) to regain compliance with the applicable requirements.
A SmallCap company will be afforded an additional 180-day grace period if, upon the expiration of the first 180-day grace period, the company is able to demonstrate $5,000,000 in stockholders' equity or $50,000,000 in market value of listed securities or $750,000 in net income from continuing operations for the current fiscal year or two of the previous three fiscal years.
Cheers,
Brantley
PSD
psivida limited
