KOO – Could you please provide me with the source of your NASDAQ listing requirements? I will eat a little crow on my earlier post as I trusted Investopedia a little too much. I won’t do that again. They listed the requirements for the top tier listing without specifying such. I have now gone to the NASDAQ’s own “2020 Initial Listing Guide” as in the link below.

https://listingcenter.nasdaq.com/assets/initialguide.pdf

Your post states:

·         Shareholders Equity of at least $2,000,000 – on October 31/19, it was a minus $82 million so fails.

·         At least 100,000 shares of public float – this says 1 or 1.1 million for the two lower tiers but not an issue.

·         A minimum of 300+ shareholders – not an issue

·         Total assets of $4,000,000 – October 31/19 was $13.3 million so okay.

·         At least two market makers – this says 3 or 4 for the two lower tiers.

·         $3 minimum bid price of the company stock – This says $4 bid price for 90 consecutive days before applying. $3 can be used if $6 million of average annual revenue for last 3 years (RVX has none) or Net Assets of $5 million ( RVX has total assets @ Oct. 31/19 of $13.3 million but even just current liabilities were $32.8 million so the net is a big fail or Net Assets of $2 million plus 3 year history which the net assets fails hugely again).

·         Public float market value of $1,000,000 – no problem here.

Two of these fail so they don’t qualify even by the standards you provided.

My earlier post shows why RVX doesn’t qualify for the top tier. I won’t go through all points of the lower two tiers but will point out where they fail.

For the mid-tier NASDAQ Global Market, there are 4 standards of which all points have to be met for at least one standard.

Income Standard – $1 million of income from operations – RVX has none so fail.

Equity Standard  - $30 million shareholder equity – RVX is negative $82                      million so a big fail.

Market Value Standard - $4 Bid price for 90 consecutive days before applying and 4 market makers. A quick glance says you have to go back 10 years to have $4 that long. Correct me if I am wrong here.

Total Assets/Market Standard – Total assets and revenue have to exceed $75 million each in last year or two of last three years. RVX has no revenue so a fail.

They appear to have failed all four of the mid-term tier standards so don’t qualify here.

Lower tier NASDAQ Capital Market has three standards of which all points must be met for at least one standard.

Equity Standard – Shareholder Equity must be at least $5 million. RVX is a minus $82 million so a big fail. $4 Bid price for 90 consecutive days prior to applying.  $3 can be used if $6 million of average annual revenue for last 3 years (RVX has none) or Net Assets of $5 million ( RVX had total assets @ Oct. 31/19 of $13.3 million but even just current liabilities were $32.8 million so the net is a big fail or Net Assets of $2 million plus 3 year history which the net assets fails hugely again).

Market Value of Listed Securities Standard – Shareholder Equity must be at least $4 million and was minus $82 million on Oct. 31/19 so fails. $4 Bid price for 90 consecutive days prior to applying. That price for that long was 10 years ago so a fail. $2 Closing Price can be used if the requirements for the $3 Closing Price listed above under Equity Standard are met. They aren’t.

Net Income Standard – Shareholder Equity must be at least $4 million. Oct.31/19 was a minus $82 million so fails. Must have $750,000 net income for latest year or two of latest 3 years. RVX has no income. $4 Bid price for 90 consecutive days before applying. Fail. $3 Closing Price can be used if the requirements for $3 listed above in Equity Standard are met. They aren’t.

They appear to miss on all three of these also. I can't see any way that they qualify for any tier at NASDAQ under the present conditions or in recent years.