1. Social and Environmental Requirement
Issuer must submit reports in compliance with social and environmental guidelines of the Green Stock Exchange (GREENSX), as prepared by an independent, qualified third-party.
2. Regulatory Requirements
Issuer must file a Offering Circular (also called prospectus), exemptions and necessary documents with securities commission and other provincial/state jurisdictions where securities will be sold, under SEC exempted Regulation A, SB-1 and SB-2 shares of the United States
Securities Act of 1933. Your Offering Circular is an extremely detailed and critical document in the going public process, providing investors with the information needed to make informed investment decisions.
3. Listing Application and Business Plan
Issuer must submit a Green Stock Exchange (GREENSX) Listing Application and supporting documents such as the Personal Information Form. You must also submit a business plan, which is essential in determining the overall soundness of your business, outlining what your business intends to accomplish and how you will allocate resources to meet those goals.
4. Earnings or Revenue:
Management plan demonstrating reasonable expectations of earnings within 24 months;
5. Net Tangible Assets:
Minimum $100,000 of net tangible assets after completion of offering.
6. Adequate
Working Capital and Capital Structure
Working capital for 18 months under business plan (incl. G&A) and $100,000 unallocated funds, after completion of offering.
7. Cash in Treasury
Minimum $100,000 in the treasury, with majority raised by offering
8. Products and Services
Evidence that products or services at an advanced stage of development or commercialization and that management has the expertise and resources to develop the business.
9. Management and Board of Directors
Management, including the board of directors, should have adequate experience and technical expertise relevant to the company’s business and industry
as well as adequate public company experience. Companies are required to have at least two independent directors.
10. Public Distribution and Market Capitalization
- 100,000 free trading public shares
- $100,000 held by public shareholders
- 100 public shareholders with a board lot and no resale restrictions
- 10% public float
- 10% of issued and outstanding shares in the hands of public shareholders
- The Issuer must not sell securities pursuant to the Direct Public Offering or an Initial Public Offering for less than $0.15 per share or unit.
11. Sponsorship and Nominated Advisor
Not required, but a Nominated Advisor may be required depending on the experience of the applicant.
12. On-going Listing Requirements
Issuers must continue to meet minimum standards to remain listed on Green Stock Exchange (GREENSX). These requirements relate to the issuer's financial situation, activity and shareholder distribution.
Once your company is listed on Green Stock Exchange (GREENSX), it becomes a reporting issuer with periodic reporting and disclosure obligations. Reporting issuers must provide shareholders with meaningful information regarding the business, management, operations and financial position of the company.
Furthermore, you must file information about transactions on an ongoing basis, such as private placements, the issuance of stock options and acquisitions.
For more information, please see Green Stock Exchange (GREENSX) Policy, including Filing Requirements and Continuous Disclosure.
See the Green Stock Exchange (GREENSX) Corporate Finance Manual for complete information on these requirements.
|