NASDAQ uplisting requires a waiting period of 30+ days after a R/S that would require a larger R/S to stay above the $4 min share price.
The alternative is ReachOut does another raise at time of the R/S and uplisting to avoid the waiting period in order to actually uplist at the $4 share price.
Any sale after uplist in that type of volume you outlined would drove the share price down significantly. If they did go this way, i doubt they'd sell and burn themselves.