It does not matter. The company cannot just file to catch up anymore. It is game over as to trading of the stock.
The company would have to file a whole new registration and go through the process which will take 6 to 9 months.
Then good luck getting any Broker Dealer Market Maker to risk fines and their license to sponsor this with FINRA to publish a quote.
As Renee said, out of nearly 2,000 companies only ONE succeeded.
If the company cannot afford a $40,000 audit, they cannot afford much of anything, especially since they have a $3,200 high rise apartment to pay for someone to live in and now no stock to sell.