The 90 day requirement (above $4 a share) is BEFORE APPLYING, thus OCAT which did their R/S on August 28th has been above $4 a share for over 90 days.
They are NOT under any "90 day requirement" in order to apply/up-list to the NASDAQ and there is nothing "magic" about Jan 7, 2015.
The 90 days would have been completed 90 days post Aug 28th which is/was about Nov 28th, 2014.
The proof in the pudding is that they clearly "thought" they were "up-listing" which was the fiasco that began on Friday, Dec 18th, 2014. Obviously they thought they'd tie it in somehow with the secondary- but something (the secondary did not pull demand, would not price high enough)- something went amiss on the entire plan and they pulled the plug.
That's the only explanation of why the stock CLEARLY, w/o debate started showing as being on the NASDAQ, including on the company website, had a template page created on NASDAQ, began to mis-quote, become untradable in retail accounts and then FINRA had to step in and require several days of making the "daily list" to show "re-instated" to OTC, as the NASDAQ uplist never occurred. They clearly "tried" to uplist- that many steps don't happen by mistake. The company had clearly told NASDAQ and probably via the underwriters and their legal firms to uplist them on Dec 18th, but again, yanked the plug.
They are NOT presently under some 90 day wait until Jan 7th. Simple as that. Read the NASDAQ listing requirements on the NASDAQ site itself- it's pdf document that explains it all. 90 days is PRIOR to applying, meaning they had to have 90 days above $4 before they could speak/ask NASDAQ about an uplist. Those 90 days finished around Nov 28th, 2014 after maintaining above $4 a share from the day the R/S was completed. It's not that complicated.
Their 8-K made it crystal clear, they are "in dialogue with NASDAQ" and they gave no specific date, certainly not Jan 7th, 2015. If there was a specific date, they'd have given it in that 8-K filing.
(Oh, and they still have problems in the shareholder equity department, I believe. Need to double check NASDAQ latest, but as of past rules, OCAT would potentially have a problem still in shareholder equity, as the secondary DID NOT OCCUR, thus they did not put the cash on the books and would only have about $750K equity today, and it's $4 mil minimum I believe- that is probably their biggest issue right now and what screwed the pooch, causing the plug to be yanked- as they probably balked on the secondary pricing, which was supposed to happen and coincide with the NASDAQ uplist. That not happening botched the entire deal- but someone didn't get to the OTC/NASDAQ in time on the 18th and stop the transfer from taking place- thus a 2 week mess that the stock is still mired in.)
