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Gofish Corporation |
I just looked at the NASDAQ listing requirements:
http://www.nasdaq.com/about/nasdaq_listing_req_fees.pdf
And, if I understand them correctly, they don't look too good for
GOFH. By the desparate selling of private shares for as little as
$1.60 each, they have damaged their stock price and thus the market
cap value. Requirements include:
Market value of publicly held shares and Shareholders' equity - $70
million
They could have done this a couple weeks ago, but not now. Now the
market cap is only $44 million. Stock prices would have to jump big
to make it worthwhile.
Bid price must be at least $5, which fails three of the four options
for listing standards. The only other option, marketplace rules,
cites lots of codes which aren't listed, but it is difficult to
believe that a new speculative company like GOFH with virtually no
revenue would meet those rules.
Sorry, but it looks to me like GOFH's initial NASDAQ application will
almost certainly be rejected. And looking at current stock prices --
and the company's desparation to attract capital by making second-wave
dilutional offerings at bargain-basement prices -- it will likely be a
long time before GOFH will be able to be considered for NASDAQ listing
at all.