Agree with your statements specially " "I highly doubt the CEO being advised by expensive up-listing attorneys simply didn't know of an obvious requirement based upon the simplified "Initial Listing Guide" and was blindly wondering what the delay was while being below obvious requirements"
However here is my guess / speculation - the CEO knew the requirements and he applied in a hurry based on pressure and looking at market reaction (we have his response to Karin and then change of direction)
In my opinion - His decision to allow CTIX to go to PINK and stay there and bad handling of uplisting process (applying even when one key requirement of BOD was not met) has caused the disappointing and skeptical response by market to SP despite getting some of the best news a early stage biotech can get.
Hoping that he does not carry such blunders and the product related good news will pull us out of slump in coming weeks.
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