Probably to control costs. Board members cost money. Time value of money simply states that money in my pocket now is generally worth more than later. It’s usually the reason businesses don’t pay their bills the date they receive them unless there’s a discount for doing so.
I could see the argument made both ways, though. I’m sure that having a delisting notice doesn’t bode well for current shareholders or enticing institutional investors...however, that didn’t seem to stop the significant volume traded after the last PR. Also, I’m pretty sure the warrants would be worthless unless they remained on the NASDAQ exchange.