I think they are filling out the paper work for up-list with the understanding that big news (either acknowledgement that the Glucose Monitoring works by Mayo &/or the bulb works against such virus as COVID-19) will drive the price to the $4+ range which should suffice to gain inclusion to the NYSE or NASDAQ.
Below is what I fund from a cursory search--
What are the rules to be listed on NASDAQ?
Shareholders Equity of at least $2,000,000.
At least 100,000 shares of public float.
A minimum of 300+ shareholders.
Total assets of $4,000,000.
At least two market makers.
$3 minimum bid price of the company stock.
Public float market value of $1,000,000.
To qualify for listing on the NYSE, a company must have at least 400 shareholders, with at least 1.1 million shares available to the public and a market value of the public shares of at least $40 million. Each stock must have a minimum value of $4 at the time of listing.
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