Listing Requirements of the NASDAQ Market Quotation Systems

Nasdaq is a quotation market system and over the last twenty years has evolved into the preferred trading market for technology and bio-technology companies.  Nasdaq is split into two tiers; the National Market and the Small Cap Market.  Both tiers are much more volatile than traditional stock exchanges.  Despite, or because of, this volatility investors and companies are attracted to this market.

The attached charts provide a summary of the listing requirements of Nasdaq_NM and Nasdaq_SM.

Nasdaq National Market - NASDAQ_NM
 

Nasdaq National Market Listing Requirements

Requirements

Standard 1

Standard 2

Standard 3

Stockholder Equity

$ 15,000,000

$ 30,000,000

N/A

Market Capitalization

Total Assets

Total Revenue

N/A

N/A

$ 75,000,000, OR

$75,000,000, OR

$75,000,000

Net Income from Continuing Operations (in latest fiscal year or 2 of the last three fiscal years

$ 1,000,000

N/A

N/A

Public Float (Shares)

1,100,000

1,100,000

1,100,000

Operating History

N/A

2 years

N/A

Market Value of Public Float

$ 8,000,000

$ 18,000,000

$ 20,000,000

Minimum Bid Price

$ 5

$ 5

$ 5

Market Makers

3

3

3

Shareholders (round lot holders)

400

400

400

Corporate Governance

Yes

Yes

Yes

Nasdaq Small Market - NASDAQ_SM
 

Nasdaq Small Market Listing Requirements

Requirements

Initial Listing

Stockholder Equity

Market Capitalization

Net Income from Continuing Operations (in latest fiscal year or 2 of the last three fiscal years

$ 5,000,000, OR

$ 50,000,000, OR

$750,000

Public Float (Shares)

1,000,000

Market Value of Public Float

$ 5,000,000

Minimum Bid Price

$ 4

Market Makers

3

Shareholders (round lot holders)

300

Operating History

Market Capitalization

1 Year, OR

$50,000,000

Corporate Governance

Yes

Go to the listing requirements of other exchanges:

Master Chart Summary, Amex , TSX, NASDAQ^NM, NASDAQ^SM, TSX Venture, CNQ, OTCBB, US Pink Sheets