Nah, not the pps level that determines the tier for penny stocks. We could fall to 002 or even lower and as long as filings are current we're good. Below is a link but basically there are 3 tiers.
USOTC, filings are current is basically the main requirement
Pinksheets, Co hasn't filed recent filings or nothing for some time
Grey market, end up there after a ticker gets suspended. There is no bid/ask quoted and is basically trading blindly. Once there I've never seen a ticker uplist to a higher exchange. Example would be a Co putting out bogus PR's to raise their pps. NERG is in this situation now. Suspended and will open up there.
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