This stock has until March 11th,2024 to get the share price to $1. If it does not achieve the $1 price there are no more extensions issued by Nasdaq.
The CEO will have 2 choices. 1) Reverse split the stock to get the share price over $1 or 2) the stock will be de-listed and will not be allowed to trade on Nasdaq. It will then have to trade on the OTC.
Most CEO's choose option #1 when confronted with de-listing from Nasdaq.