They can still go down a tier within Nasdaq, but capitol requirements and PPS are both an issue. They may have solved Capitol, PPS they clearly have not and cannot by the 10th. It's not unlikely they'll be granted an extension. However, the granting of the extension would require a plan submitted by management which would likely have to include an RS, 1 for 5 minimum IMO, likely higher to compensate for the drop leading up to RS.