NASDAQ looks for more information than just PPS, shareholder equity or market cap to qualify for uplisting. In order to protect public interest and shareholders it will look at the dilutive effects once listed on NASDAQ. It wants to prevent excessive dilution even though some dilution is expected. Given AMBS situation that Series E matures in Sept'15 i.e about 8-10 million when all said and done, Diogenix would own about 10% of common stock and will be able to convert at some point and Gerald needs to come up with explaination for that. That's why it is important for him to restructure current debt and show NASDAQ that there will not be excessive dilution. The sale of diagnostic division would also help and that is another alternative.
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