Is the companys audit committee required to approve reliance on a financial viability exception?
Reliance by the company on a financial viability exception must expressly be approved by the audit committee or a comparable body of the board of directors comprised solely of independent, disinterested directors. The company should submit to NASDAQ a copy of the committee resolution approving such reliance.
Related Questions
- Can a company that receives a financial viability exception issue any securities in the transaction prior to the end of the ten-day notice period?
- Is the companys audit committee required to approve reliance on a financial viability exception?
- How does a company request a financial viability exception?
