Like you, I'm not an expert in uplisting to NASDAQ.
It seems the Equity Standard is an open door for LWLG. Why wouldn't they walk through it, rather than highlight the Market Value column?
MNGT could have made an error their interpretation of the requirements...switch to Equity Standard...all is well. Or, there's a reason they choose to highlight the Market Value.
You're right, it's a good question for MNGT and begs clarification. Perhaps someone here, with MNGT's ear, can ask?