The company would have to apply for a listing and jump the required hoops. One of those is pps. I know that once a Nasdaq listed stock dips below a dollar they get a year to recover and if they don't the stock get's "delisted".
Though we are a ways out from trading options on mhtx, who wouldn't write long dated 13 cent puts and buy 15 cent calls on a spread order if you could?
You would get paid to enter the position with a net credit up front and the worst that could happen is you might have to buy the stock @ .13. If the price rises significantly (good chance), The puts expire while the calls appreciate.
A price in the 2 to three range . In order to do this a reverse split would need to occur. sad that a million share inside buy generates 6500 share in the stock. .126 last down a penny.
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