In June 2018, the Securities and Exchange Commission adopted amendments to the definition of “smaller reporting company.” Under the amendments a company with a public float of less than $250 million qualifies as an SRC. A company with no public float or with a public float of less than $700 million will qualify as an SRC if it had annual revenues of less than $100 million during its most recently completed fiscal year. The rules are effective as of September 10, 2018.
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