Unless Kay and his two partners in crime have decided that their appetite for big salaries and benefits are sated (an unlikely circumstance) I think it likely that the company will file the required financials before the company gets kicked down to the expert market. Because if they do end up on the expert market, the days when they can issue new shares will largely be over and that means the paychecks stop.
Mark is endlessly greedy. He knows that there is more juice to be sucked out of this grapefruit.