(2) For initial listing, the issuer shall have either:
(A) (i) stockholders' equity of $5 million; and
(ii) a market value of publicly held shares of $15 million; and
(iii) an operating history of at least two years; or
(B) (i) stockholders’ equity of $4 million; and
(ii) market value of listed securities of $50 million (currently traded issuers must meet this requirement and the bid price requirement under Rule 4310(c)(4) for 90 consecutive trading days prior to applying for listing); and
(iii) a market value of publicly held shares of $15 million; or
(C) (i) stockholders’ equity of $4 million; and
(ii) net income from continuing operations of $750,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years; and
