The requirements for the Nasdaq are far more than just a $4 price. We have a lot to do to meet the other requirements, and you don't need to be $4 while you're doing them. If they were to get some patent approvals and proof of concept in Phase 1 Trials the price should be far higher, and they could be working on other requirements for Nasdaq listing. Once they're in the $1 area a small R/S wouldn't harm current investors the way a 1 for 100 or worse will now.
I think what he's saying is that, Yes, PPS can be above $3 but that's after the RS and everyone will own less shares, way less if a 300-500 to 1 split. If down 80%, then after a reverse split, you would need PPS to be GW like...