posted
"Regular listing requirements for the AMEX include pre-tax income of $750,000 in the latest fiscal year or 2 of most recent 3 years, a market value of public float of at least $3,000,000, a minimum price of $3, and a minimum stockholder's equity of $4,000,000."
How are they going to do this?? I hope it's possible!!
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Go read requirement #3 to move to the AMEX...It does not have the $3.00 requirement...
quote:Originally posted by 401k: "Regular listing requirements for the AMEX include pre-tax income of $750,000 in the latest fiscal year or 2 of most recent 3 years, a market value of public float of at least $3,000,000, a minimum price of $3, and a minimum stockholder's equity of $4,000,000."
How are they going to do this?? I hope it's possible!!
posted
From the AMEX website: (check minimum price)
Listing Standards for Original Listing The American Stock Exchange has established certain quantitative and qualitative standards for initial listing of U.S. and foreign companies. For details, click on Amex Company Guide or on the topics below.
Quantitative Standards Criteria Listing Standards Standard 1 Standard 2 Standard 3 Standard 4 Pre-tax income1 $750,000 N/A N/A N/A Market capitalization N/A N/A $50 million $75 million OR At least $75 million in total assets and $75 million in revenues Market value of public float $3 million $15 million $15 million $20 million Minimum price $3 $3 $2 $3 Operating history N/A 2 years N/A N/A shareholders' equity $4 million $4 million $4 million N/A Public shareholders/Public float (shares)2 Option 1: 800/500,000 Option 2: 400/1,000,000 Option 3: 400/500,0003
1 Required in the latest fiscal year, or two of the three most recent fiscal years.
2 Public shareholders and public float do not include shareholders or shares held directly or indirectly by any officer, director, controlling shareholder or other concentrated (i.e. 10 percent or greater), affiliated or family holdings.
3 Option 3 requires a daily trading volumeof 2,000 shares during the six months prior to listing.
Foreign Applicants Foreign issuer applicants who do not meet the distribution guidelines outlined above may alternatively qualify with 800 round-lot public shareholders worldwide, 1 million publicly held shares worldwide and a $3 million market value of public float worldwide.
Initial Public Offerings In certain circumstances, the American Stock Exchange may approve an issue for listing "subject to official notice of issuance" immediately prior to effectiveness of the issuer applicant’s initial public offering. While the Exchange has not adopted special criteria for IPOs, added emphasis is placed on the company’s financial strength, including an objective evaluation of the anticipated value and offering price, and its demonstrated earnings history and/or outlook.
Qualitative Standards In evaluating listing eligibility, the Exchange also considers qualitative factors such as the nature of a company's business, market for its products, reputation of its management, historical record and pattern of growth, financial integrity, demonstrated earnings power, and future outlook.
The Exchange also considers the laws, customs and practices of the applicant's country of domicile regarding matters such as the election and composition of the board of directors, issuance of quarterly earning statements, shareholder approval requirements, and quorum requirements.
Corporate Governance Standards The American Stock Exchange requires listed companies to adhere to its corporate governance standards. Questions should be directed to the Listing Qualifications department at 212-306-1331. For new rules click on Enhanced Corporate Governance.
Conflicts of Interest The Exchange requires a listed company to utilize its audit committee to conduct an appropriate review of all related party transactions on an ongoing basis. See Section 120 of the American Stock Exchange Company Guide.
Independent Directors and Audit Committee The Exchange has various requirements regarding a company's independent directors and audit committee. Any domestic issuer applying for listing on the Amex must be prepared to demonstrate compliance with these requirements and ongoing compliance is also required for listed companies. See Section 121 and Part 8 (Corporate Governance Requirements) of the American Stock Exchange Company Guide.
For the Audit Committee Certification Forms and Rules click here.
Quorum The American Stock Exchange expects that an appropriate quorum of the shares issued and outstanding and entitled to vote will be provided for by the bylaws of companies applying for the original listing of voting securities. A quorum of at least 33-1/3 percent is recommended. See Section 123 of the American Stock Exchange Company Guide.
Shareholder Approval The American Stock Exchange requires listed companies to obtain shareholder approval for certain corporate actions that would result in discounted stock and/or option issuances as well as other potentially dilutive transactions. See Sections 711, 712, and 713 of the American Stock Exchange Company Guide.
Voting Rights Common Stock—See Section 122 of the American Stock Exchange Company Guide.
Preferred Stock—See Section 124 of the American Stock Exchange Company Guide.
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Mr. Ed, I'm new to penny land and have been reading messages posted on this board for months. Will the stock really reverse split * 10000-1??? Man if it does I don't think I will stay around penny land.
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Someone said they saw a report that stated after the 10000/1 reverse split is completed that this would be diluted back to .0002 in 6 months. Did anyone see that report ?
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If you take Turak at his word, he has stated there will be no reverse split... Having said that, he has said a number of other things as well, and his track record is less than stellar... If they really want to go to the AMEX, he will need to clear shares somehow...
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We need to cut with the rumors and speculation, unless you are sitting in that conference and have heard anything offical, the rest is speculation. One way or another lets hope that it becomes clear soon Take that crap to the hub or RB
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow
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"Let's Agree That We Can Disagree And Still Be Friends" I disagree, Doc. I've been doing this for YEARS, and every time a penny moves up (which is very rare), they are FORCED to do a R/S to make the upgrade. Unless the company has really big bank accounts and can afford a massive buyback of stock, THERE IS NO OTHER WAY TO ACCOMPLISH IT. Rumors and speculation may be the only way the small investor can protect himself from these ripoffs. The SEC sure as H--- aint gonna do it. I'd rather read about the POSSIBILITY of a R/S than sink my savings into a stock and then get my pants stolen. And I'm sure I'm not alone. So until these penny companies start following rules similar to the big board, I will continue to warn of the possibility. May we all become rich on this one, and never have our pants stolen again.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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adnl/adnn just had a reverse 10,000\1 boy did that suck. but the good thing is that it takes very very little volume to make it jum like crazy. hope it doesnt drop like a rock right before the reverse. aloha
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The Bashholes are out in force...on every board trying to slam this to .0001-.0002 before the squeeze...Overtime today and probably all weekend...They have no clue what happened at the Shareholders Meeting...but they know what's coming..They need real shares bad and no one's selling...What you gonna do with all that paper boys? Can you smell it in the air...FEAR...You shorter/hedgefund turkeys are ready to get you hedges clipped...
quote:Originally posted by Doctoall: I see new posters
quote:Originally posted by ed19363: "Let's Agree That We Can Disagree And Still Be Friends" I disagree, Doc. I've been doing this for YEARS, and every time a penny moves up (which is very rare), they are FORCED to do a R/S to make the upgrade. Unless the company has really big bank accounts and can afford a massive buyback of stock, THERE IS NO OTHER WAY TO ACCOMPLISH IT. Rumors and speculation may be the only way the small investor can protect himself from these ripoffs. The SEC sure as H--- aint gonna do it. I'd rather read about the POSSIBILITY of a R/S than sink my savings into a stock and then get my pants stolen. And I'm sure I'm not alone. So until these penny companies start following rules similar to the big board, I will continue to warn of the possibility. May we all become rich on this one, and never have our pants stolen again.
Time will tell and I could be wrong but at this point my crystal ball is cloudy and I just can't seem to get that telepathic link going with Jim T On another note I am still pantless after that last rip off, so being pantless I would rather not profess one way or another. The bottom line is that all and every company is in for themselves first and us last.
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow
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Yeah, Doc, we're a lonely breed, fighting the Market, the MMs, the SEC, and even the companies we are investing in. I keep thinking one day we'll win and get our pants back....LOL
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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Yep...maybe recycled plastic pants if we're a lucky here...GLTA
quote:Originally posted by ed19363: Yeah, Doc, we're a lonely breed, fighting the Market, the MMs, the SEC, and even the companies we are investing in. I keep thinking one day we'll win and get our pants back....LOL
posted
Plasticon International, Inc. Increases Profits by More Than 77%While Reducing Operating Expenses
Mar 20, 2007 08:31:00 (ET)
LEXINGTON, KY, Mar 20, 2007 (MARKET WIRE via COMTEX) -- Plasticon International, Inc. (PINKSHEETS: PLNI) is pleased to announce that the Company has filed their financials and has realized a gross profit of $392,886 for the third quarter 2006, which is a 77% increase over the second quarter 2006 gross profit of $221,065. Plasticon International, through the cutback of operating expenses, reduced the Company's net loss by more than 70%.
Plasticon International, Inc. recently announced that the Company intends to make an application for listing of its common stock on the American Stock Exchange. Upon the successful acquisition of AV-CB Developments, Plasticon believes that its balance sheet will satisfy the capital requirements that will allow the Company to submit an application for listing of its common stock on the American Stock Exchange. If current plans continue to hold and subject to further negotiations, the Company anticipates that the acquisition of AV-CB may be completed within the next 30 to 60 days.
"This financial statement represents the dedication of our team to the continued improvement of our company, as well as reflects our veracity and ability to follow through. We have set a goal for ourselves and we are working diligently to accomplish our ambition of obtaining a listing on the American Exchange," stated Jim Turek, CEO and President of Plasticon International, Inc.
The Company also announced that their wholly owned subsidiary, SEMCO Manufacturing, Inc., has completed surfacing the concrete embankment on the I-515 Beltway Interchange for the Nevada Department of Transportation. The $241,000 contract called for the application of SEMCO's proprietary concrete sealants and anti-graffiti coating. Pictures of the completed project can be viewed at www.plasticonintl.com .
About Plasticon International, Inc.:
Plasticon International ( www.plasticonintl.com ) designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit http://www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.
posted
H'mmm alot of new post from newbies and their opinions... New my self and wondering why after several month's of reading this board where they come from.... I bought PLNI two years ago and still belive it will in time be a sweet investment.
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quote:Originally posted by icanman: H'mmm alot of new post from newbies and their opinions... New my self and wondering why after several month's of reading this board where they come from.... I bought PLNI two years ago and still belive it will in time be a sweet investment.
lol...
your post makes me go " H'mmmmm "
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Plasticon International, Inc. Announces Results of First AnnualShareholder Meeting
Mar 22, 2007 08:51:34 (ET)
LEXINGTON, KY, Mar 22, 2007 (MARKET WIRE via COMTEX) -- Plasticon International, Inc. (PINKSHEETS: PLNI) is pleased to announce that the Company's Board of Directors has been approved as a result of the shareholder meeting. The shareholders voted to ratify the appointment of Mendoza, Berger, and Co. of Irvine, California as the independent registered public accounting firm for Plasticon International, Inc. for the years 2006 and 2007.
The slate of Directors nominated for the Board of Directors includes Mr. Jim Turek as Chairman of the Board, as well as CEO and President of Plasticon International, Inc and Mr. C. Edwin Rude, Jr., who has over 34 years practicing as an attorney under Florida, U.S. Court of Appeals, Eleventh Circuit; U.S. District Court, Northern and Middle districts of Florida and the U.S. Supreme Court. Mr. George Butler, who has over 29 years of experience as a commercial banker in Barnesville, Georgia and Mr. Michael Rodriquez, who has more than 20 years of experience supervising accounts, budgeting, contracting, estimating, purchasing, and invoicing in the construction industry, were also elected to the Board of Directors for Plasticon International, Inc.
"I am very pleased with the results from the shareholder meeting. I was able to speak to individual shareholders and answer any questions that they had. We are compliant in our financial statements and look forward to pursuing an up listing to the American Stock Exchange," stated Jim Turek, CEO and President of Plasticon International, Inc.
To view a letter to shareholders from Mr. Jim Turek, please visit www.plasticonintl.com .
About Plasticon International, Inc.:
Plasticon International ( www.plasticonintl.com ) designs, produces, and distributes high-quality concrete accessories, informational & directional signage and plastic lumber, which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green company, environmentally friendly, using recycled plastics to produce its line of products.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit http://www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.
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