|
Applicants must satisfy one of the following tests: |
|
|
Earnings test |
Valuation + revenue + cash flow test |
Pure
valuation + revenue test |
Affiliated company test |
|
Adjusted pre-tax earnings on continuing operations |
Min US$
10 m in aggregate for the last 3 years. AND
Min US$
2 m in last 2 years AND
Positive for ALL last 3 years |
- |
- |
- |
|
Adjusted operating cash flow |
|
Min US$
25 m in aggregate for the last 3 years. AND
Positive for ALL last 3 years |
|
|
|
Revenue
for most recent year |
- |
Min US$
100 m |
Min US$
75 m |
- |
|
Global
market capitalization |
- |
US$ 500
m |
US$ 750
m |
US$ 500
m |
|
Minimum
number of investors |
2,000
U.S. shareholders OR 2,200 shareholders with an average
monthly trading volume of 100,000 for last 6 months OR
500 shareholders with average monthly trading volume of
1 million shares for last 12 months.
|
|
Public
float (shares) |
2.5
million worldwide |
|
Public
float (value) |
US$ 100
million |
|
other |
|
|
|
At
least one year of operation AND
Has a
good standing listed parent/affiliate which continues to
retain control. |
|
Accounting must be done to US GAAP, of with
reconciliation to it |
