Your logic is flawed. The company wants to up list. What you are saying is that their current market cap is still over valued or maybe fair. At your fully diluted 8.5B shares or 21.2M after RS the share price on Nasdaq would be .52. That is IF investors were willing to buy 12x the existing shares hitting the market.
The minimum share price is $1 on the Nasdaq Capital market which is the easiest to qualify for. You are saying the company will up list and fully dilute their shares knowing they will automatically run the risk of being delisted.
A fully diluted post split of 21.2M would have to have a market cap of $21.2M or in other words $1 a share to even maintain Nasdaq requirements. In other words we are at the very least undervalued by 1/2.
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