According to the rules noted, GIFA, Inc. will have to become a fully reporting company and provide a full year of audited financials for the seasoning year, as just one of the requirements for up listing. Along with that, an S-10 registration must be completed, requiring audited financials for the company that desires to become fully reporting.
I don't think GIFA will do this. It would have been less expensive and time consuming to buy a fully reporting shell, if that was their intent. Look at what is happening with Dolat.