The guidelines are pretty straightforward and just have to met. PPS of at least $2 for the capital market and $4 for the others. 4000:1 RS and you're sitting at over $13. Then you need capital, assets, income, whichever criteria you can meet, and having an underwriter who apparently put together a sales pitch to convince its clients that a share and a warrant for $10 was a worthy investment raising $23M minus their fees and profit worked out.
With a PPS entering NASDAQ north of $13 and over $20M in cash on the way, NASDAQ was easy.
NASDAQ is brutal, though, no more little fluffy PR's about patents, advisors, conferences, none of that matters, business performance is all that matters.
The O/S was roughly 900k after the RS. Should have been in the low 3M's after the offering, 3.5M at the most. Somehow it is sitting at 5.8M with over 5.5M unrestricted. Auctus and the other creditors were to get 2M units, but they weren't allowed to become a 5% owner, so it shouldn't be them that has raised the O/S already, they'd have to take small blocks and ease it in. They can begin to sell their stock in another week or two.