I dunno Lime Time. I think it is an either-or scenario.
Have seen pinks use the S-1s to upgrade to OTCQB without any new shares being added to the O/S.
Have also seen some OTCQB stocks use S-1s to upgrade to NASDAQ or NYSE.
In those cases, after the correspondence concerns/filings have been satisfied, the SEC posts a CERTNAS or CERTNYSE certification, prior to the uplisting.
But hey, that just what I have seen in the past with some of my plays.
Its not like I took a Webinar and am now looking to be crowned king of anything (you know who I mean. LOL.)
Am I missing something?
TIA, IMO and FWIW.