If they are bothering with FORM 10 then it is suggestive that they are at minimum going to a higher OTC tier; QB or QX. This would be a logical step and possibly a pre-requisite of the capital raising activities...
But after the FORM 10 is filed and registered, that doesn't mean they are trading. They have to apply to be publicly traded and they could then just keep reporting to SEC for future financing flexibility, etc but they could also delay listing on any exchange for months or even years...