Continued Listings Standards

The Exchange has both quantitative and qualitative continued listing criteria. When a company falls below any criterion, the Exchange will review the appropriateness of continued listing. The following is a summary of the Exchange's financial continued listing standards.  For a more complete discussion of the Exchange's continued listing standards, as well as the procedures followed when a company falls below any of the continued listing criteria, see Section 802.00 of the Listed Company Manual.

Price Criteria

Average closing price of a security is less than $1.00 over a consecutive 30 trading-day period.

Numerical Criteria for Capital and Common Stock

For companies that listed under the Earnings standard
and Assets & Equity standard

Average global market capitalization over a
consecutive 30 trading-day period is less than		 $50 million
AND  
Total stockholders equity is less than $50 million
OR  
Average global market capitalization over a
consecutive 30 trading-day period is less than 		 $15 million

For companies that listed under the Pure Valuation
with Cash Flow standard 

Average global market capitalization over a
consecutive 30 trading-day period is less than		 $250 million
AND  
Total revenues for the most recent 12 months  $20 million
OR  
Average global market capitalization over a
consecutive 30 trading-day period is less than		 $75 million

For companies that listed under the Pure Valuation standard 

Average global market capitalization over a
consecutive 30 trading-day period is less than 		 $375 million
AND  
Total revenues for the most recent fiscal year
are less than		 $15 million
OR  
Average global market capitalization over a
consecutive 30 trading-day period is less than		 $100 million

For companies that listed under the Affiliated Company standard

Will not be subject to numerical criteria unless the parent/affiliated company no longer controls the entity or such parent/affiliated company itself falls below the numerical criteria.
 

The exchange has separate criteria for Funds, REITs and Limited Partnerships, for Bonds, and for Preferred stocks. See Section 802.01B of the Listed Company Manual.

Issuers may trade on the Exchange while noncompliant with the quantitative continued listing criteria subject to the procedures referred to in Sections 802.02 and 802.03 of the Exchange's Listed Company Manual. If an issuer is traded on the Exchange while below its quantitative continued listing criteria, the Exchange will disseminate over the consolidated tape a BC indicator of its status. The indicator continues to be disseminated until NYSE Regulation staff has determined that the issuer is in good standing. Whether this indicator appears in a stock quotation and what symbol is used to represent it is determined by the particular vendor displaying the quote.

A complete list of issuers that are noncompliant with NYSE quantitative and corporate governance listing standards is available.