Every day they were above $1.00, they were back in compliance with the NASDAQ minimum Bid; saying they weren't is just plain stupid and not reality. The price didn't stay above $1.00 for long because of nefarious manipulation.
A very brief synopsis, some pumper convinced people that there was naked shorting, so EVERYONE should call in their certs to take all tradable stock off the market.
Well, many did and the company kept pumping out shares and the whole thing ended up in disaster for anyone that bought it.
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