Did you look at their balance sheet? They're broke. And the link you posted was for a crowdfunding site.
They can "hope" all they want. They're trying to finance proof-of-concept through crowd funding. That will not get them on the NASDAQ. What it may get them is some crowdfunding dough if there are enough suckers to buy into the dream.
They're also not a large company. Whoever merges with MHTX is going to need oomph to get and STAY on the NASDAQ. It's likely not this company.
If MHTX is considering this company, brother, you are in worse trouble than ever.