There are competing theories here. 1 is a r/s from a point of weakness, such as a hostile takeover, loss of pps, etc. And 2 is from a point of strength (so to speak), in the attempt to uplist to NASDAQ after a successful launch. They tipped their hat to both theories. A r/s may still be on the table, but if it was driven by weakness it probably would've happened by now.
And yes, I know, an r/s is never indicative of real strength, but hopefully you get what I'm thinking here.