Companies

Companies considering a listing on the BX Venture Market have two tiers of qualifications; those previously listed on a U.S. National Exchange and those not listed on a U.S. National Exchange:

Initial Listing Requirements

	Previously on U.S. National Exchange	Not listed on U.S. National Exchange
Public Float	200,000	200,000
Public Shareholders	200 Total 100 Round Lot	200 Total 100 Round Lot
Market Value of Listed Securities	$2 million	$2 million
Market Makers	2	2
Bid Price	$0.25	$1.00
Balance Sheet Requirement		$1 million in equity or $5 million in assets
Operating History		1 Year
12 Month Plan to Maintain Sufficient Working Capital		Yes
Corporate Governance	Yes	Yes

Continued Listing Requirements


Public Float	200,000
Public Shareholders	200 Total
Market Value of Listed Securities*	$1 million
Market Makers	2
Bid Price*	$0.25
Corporate Governance	Yes

* Market Value of Listed Securities
Non-compliant companies will be given 90 calendar days to regain compliance with the market value of listed securities standard.

* Bid Price
Securities which fail to maintain a $0.25 per share bid price for 20 consecutive trading days will be suspended from trading on the BX Venture Market.

Companies may regain compliance by achieving the minimum bid price on another venue such as the OTC Market.

For select Corporate Governance Standards, please click here »

For SEC Approval Order, please click here

The BX Venture Market is a separate listing venue from The NASDAQ Stock Market. Securities listed on the BX Venture Market are not listed on NASDAQ and are subject to lower listing standards than those imposed by NASDAQ and other national securities exchanges. Smaller companies with lower liquidity, such as those listed on the BX Venture Market, may create higher risks for investors.