Original Listing Guidelines, Domestic Common Stock

The following are general minimum guidelines. The fact that an applicant may meet the guidelines does not necessarily mean that the applicant will be approved for listing. In certain circumstances, an applicant for the AMEX or NASDAQ may be approved even though the applicant may not meet all guidelines.

Amex NYSE NASDAQ National Market Small Cap

Regular Alternate Regular Alternate Alt. 1 Alt. 2 Alt. 3

.

Net Tangible Assets3 . $40,000,000 $6,000,000 $18,000,000

.

Standard 1:
$4,000,000

Market Capitalization

Total Assets

Total Revenue

. .

$500,000,000

 

$200,000,000

. .

$75,000,000
or
($75,000,000
and
$75,000,000)

Standard 2:
$50,000,000

Shareholders' Equity

$4,000,000

.

.

.

Net Income
(in last FY or 2 of last 3 FYs)

.

.

$25,000,000 total over last 3 FYs
(all 3 years must be profitable)

.

Standard 3:
$750,000

Pre-Tax Earnings
(in last FY or 2 of last 3 FYs)

$750,000

.

$2,500,00 in last FY and $2,000,00 in each of the proceeding FYs or $6,500,00 total over last 3 FYs and $4,500,00 in last FY (all 3 years must be profitable)

.

$1,000,000

.

.

.

Public Float (Shares)

Standard 1: 500,000
Standard 2: 1,000,000
Standard 3: 500,000

1,100,000

1,100,000

1,000,000
Market Value of Public Float $3,000,000 $15,000,000 $40,000,000 $8,000,000 $18,000,000 $20,000,000

$5,000,000

Bid Price

$3.00

. $5.00 .
Market Makers

.

. 3 3 4 3
Shareholders

Standard 1: 800
Standard 2: 400
Standard 3: 400

Standard 1: 2,000 round lot holders
Standard 2: 2.200 total holders
Standard 3: 500 total holders

400

300

Average Daily Volume

Standard 3: 2,000

. . .
Average Monthly Volume
(Last 6 Months)

.

Standard 2: 100,000
Standard 3: 1,000,000

. .
Operating History (years) . 3 . . 2 . 1