I don't think you are correct.
I think he is concerned about the compliance costs of being at a higher tier. I think he would desperately like to get there and to have the price soar and to issue a small number of shares to bring in $$, but he doesn't want to do that until it is worth the cost to uplist and stay uplisted. And for it to be worthwhile doing, he first has to all his ducks in a row.
You may remember that not too, too long ago you were predicting complete collapse under the weight of "the writs". Well, that wouldn't have been a good time to uplist, right? But he got past that.
To some extent, I admire the guy's ability to survive. Will he ever not just survive, but thrive? I dunno. But to some extent he just needs one success and then maybe he can bring in some people to help make the business more businesslike.
Certainly in the cesspool of penny stocks, HHSE stands out as really trying to do something. But I am not saying all this because I am drinking the Kool-Aid. I am just saying that EP has overcome many, many obstacles -- many of his own making, but obstacles nonetheless -- and here he is in 2025 with a movie that could perhaps do okay. And the impact of that would be that the share price of HHSE might well go up by a nice percentage from this low level.
I am obviously NOT an investment advisor.