Nasdaq Listing Requirements...tough Set Of Standards...

[Sailor Dog]

I looked at this about a year or so ago, when there was a rumor going around that some brokers were going around telling potential investors that Elio Motors was going to get NASDAQ listed. I found that same set of three requirements. And my conclusion then was the same as yours now: "Not sure how Elio Motors currently qualifies for a Nasdaq listing..."

It's all in the exceptions and interpretation...and what is not known but apparent from the statements made by the people that know EM best. Astronomers don't 'see' the earthlike planets but rather the dim 'evidence' of them! Elio has met the listing requirements and the big boys (vc's) need to pull their pants up and buy the stock and get this IPO'd...they will be richly rewarded.

 

[pistonboy]

The NASDAQ has 3 tiers:

• Global Select Market---- for the big boys
• Global Market---- for the smaller boys
• Capital Market---- for those trying to raise capital

Standards are different for them. Sounds like post 1 quoted requirements for NASDAQ Global Select Market which is for the big boys.
Sounds like EM should be in the NASDAQ Capital Market because they are trying to raise capital.

http://business.nasdaq.com/list/listing-options/US-Market-Tiers

 

[Donnyboy]

Nice find pistonboy. Looks like they would qualify for the Capital Market listing. They also listed a timeline:

Listing Timeline
While it generally takes four to six weeks to process a listing application, this time frame is variable and may be shortened considerably, if the application raises no issues and the company responds quickly to Staff comments.
Week 1. Company submits application for listing and Nasdaq Listing Qualifications Staff begins its review.
Weeks 2-3. Staff completes its preliminary review and prepares comment letter.
Weeks 3-4. Company addresses any issues raised by Staff.
Weeks 5-6. Staff completes their review and company is approved for listing.

If they are listed they will have to provide annual reports and have an annual shareholder meeting. I'd take a trip to that meeting....hopefully traveling across the states in my Elio.

 

[Chris F]

The NASDAQ has 3 tiers:

• Global Select Market---- for the big boys
• Global Market---- for the smaller boys
• Capital Market---- for those trying to raise capital

Standards are different for them. Sounds like post 1 quoted requirements for NASDAQ Global Select Market which is for the big boys.
Sounds like EM should be in the NASDAQ Capital Market because they are trying to raise capital.

http://business.nasdaq.com/list/listing-options/US-Market-Tiers

Absolutely right on the listing issue. When the S-1 Registration Statement and Elio sells the $100MM in new common stock, it may meet NASDAQ standards for listing on the lower market. As a Delaware corporation, Elio is already required to have an annual stockholder meeting under the Delaware corporation law. Under the Reg A Tier 1 reporting, Elioi was already required to file semi-annual reports, including the annual audited financials. Not sure why the reports were not distributed to the stockholders (via broker); I'm not following Reg A developments. Doing the Exchange Act registration (not sure if that went effective), if Elio has a stockholder meeting, they would have to distribute annual reports and proxy statements IF Elio had an annual meeting. Assuming the Elio S-1 goes effective, it will be under a higher level of review.

 

[Chris F]

I assume the big move in the stock was a result of the S-1 filing with the SEC.

 

[Donnyboy]

The Reg A issuance of stock only required information be sent to people considering buying the stock. Once it started trading on the pink sheets it requires almost no disclosure.

"Financial Reporting - Many companies are not subject to SEC registration requirements, and therefore, do not make regular filings of financial information and other corporate events with the SEC. Companies are not required to provide financial information to OTC Markets Group; however in order for investors to make informed trading decisions, many companies elect to provide disclosure."

http://www.otcmarkets.com/learn/otc-company-reporting

This is why so many stocks listed here are complete con jobs and scams, and it's why Elio is applying for the NASDAQ listing. No one takes you seriously when you're listed there. Most institutions are prohibited from investing in companies listed in the Pink Sheets. So this would open up their stock to almost any investor. We will know something is about 5 more weeks!

 

[booboo]

I do not look at it as much as a Hail Mary, but more like a Final Countdown.
http://www.thetruthaboutcars.com/2017/08/elio-throws-financial-hail-mary-nasdaq-ipo-filing/

 

[xtspode]

I do not look at it as much as a Hail Mary, but more like a Final Countdown.
http://www.thetruthaboutcars.com/2017/08/elio-throws-financial-hail-mary-nasdaq-ipo-filing/

A final Countdown to Liftoff. Go Elio!!

 

[Bookly]

I do not look at it as much as a Hail Mary, but more like a Final Countdown.
http://www.thetruthaboutcars.com/2017/08/elio-throws-financial-hail-mary-nasdaq-ipo-filing/

If only it were true.

If the $100 million IPO is successful, it doesn't create a real countdown to production (they state they need 3 to 4x that amount for production). If it creates a countdown, it would be a countdown to the next fundraiser.

 

[slinches]

If they get the $100 million from this IPO, I have no doubt that the rest will be raised. When the $100 million is spent, they will have a tested and proven vehicle that is ready to go into production with a reservation queue well into the 6 digits. Why not fund production at that point?