Hi Stilllongonint2013,

Thank you for your feedback. The answer to your question is yes: if Yappn raised $40M or more via a firm commitment, underwritten public offering, they would be able to apply to list on a senior exchange and the one year seasoning period requirement would be waived (e.g. if they did the capital raise after 9 months on the OTCBB, they would not have to wait another 3 months before applying to the Nasdaq). Naturally, the company would also have to meet the various requirements of the exchange to which they applied.

The Seasoning Period rules were put into effect to ensure companies that gain access to the US public markets by taking over a shell company are properly vetted before they list on a senior exchange and they are not trying to hide anything in their financial numbers, etc. Because of the amount of due diligence required and the intense scrutiny that Yappn would be put under for an underwritten offering of such a large size to take place, this would satisfy the intent of the legislation.

I hope that answers your question.

Respectfully,

BUMBLEBEE