I believe it would also require a few other things, like multiple years with a certain amount of revenue? I didn't look super deep into it, but having a hard time seeing how they could meet a goal of uplisting by the end of the year, or beginning of next. But I'm sure others know more/better than I do!
Actually there are three different tiers for getting up to the NASDAQ each one has a different criteria you can get in at the $1 $2 or $4 but you have to meet the criteria that's why a lot of times companies do a reverse merger because the other company might meet the criteria to get in at the dollar level