For SGMO to be compliant with the deficiency notice by Oct 23, it means they would need to start trading at $1 or above for ten consecutive trading days before the initial deadline of Oct 23 (which is Oct 9th). For example, if on Oct 10, nine trading days before the deadline, they started trading at or above $1, and stayed there thru Oct 23, they would be considered non-compliant. They would need to ask for an extension, and if granted, they would be given another 180 days to become compliant. They can't ''bank'' the nine consecutive days of trading above $1. Meaning, the first compliance period is over, and a new 180 day compliance period starts with a ''new'' ten trading day trading above $1 requirement to meet compliance.
But in all likelihood they would be granted the new extension. But if Oct 23rd come around and the company is not trading above $1 it's likely because they have bigger problems. Point is they are weeks from insolvency at this point. Something has to happen...!
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