On the surface, it seems like a tall task to overcome...but that might not be the case. Obviously this company needs solid revenues to start coming in. The company projects to be profitable on an EBITDA basis, in Q2. That's a start! Additionally, much of the debt is convertible. It's dilutive in nature, but will significantly clean-up the balance sheet.
April 2014 is probably too soon as not only does the asset to debt ratio need to change, but until the company is profitable (not just on an EBITDA basis) debt will continue to accrue, increasing the Shareholder Deficit.
Even if Implant lands a large contract for 10s of millions, unless there is significant upfront revenue, the balance sheet will likely not recognize it immediately. AR will be recognized when product is shipped, which is likely over a good period of time.
But with profitability and debt conversions, I wouldn't be surprised if uplisting happens sometime in FY 15..all IMO.
