NASDAQ works with companies and don’t work against them. It’s a process that is subject to negotiations and circumstances. Take an example $IDEX. They appealed after two extensions and the hearing panel worked with them to execute a plan and stay listed. They gave more than three additional months by not making a decision. Based on Mullen special circumstances and naked shorting they may grant them another 180 day extension or they may end up complying without the need for extension if dilution ends soon. As a last resort, MULN can do another RS if they have to but they will risk getting delisted with any future violation.
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