Question: What is your timeline for changing indices, that you are listing on a nationally recognized stock exchange other than the Over the Counter Bulletin Board (OTCBB)?
There are also administrative and regulatory review processes (that can be iterative) that we must also endure, time-wise, before acceptance on a new exchange. We have reviewed the criteria and believe that we can upgrade our listing within nine months of raising our new equity capital. In some instances, it could take more time. In the interim, we are implementing the positive governance and process changes that we believe all companies should hold themselves to, that is, the highest disclosure, communications and governance standards, regardless of regulatory oversight.
We will soon begin posting documents such as Board and Committee Charters, well in advance of requiring them for upgrading our listings. We understand that the oversight provides higher confidence and possibly better liquidity for our investors and hope to achieve those listings as soon in 2011, as practical.
Corrado De Gasperis
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