They can stay current without having to issue 8k’s by simply going the standard otc route rather than SEC audited. So it still doesn’t make sense. And yea, audited fins to stay current aren’t more than 20k for a small bio company at this stage I’d guess. It makes no sense unless like you said, it’s deliberate for some other reason.
Why doesn’t he simply just go non SEC reporting, and submit their already competed fins straight to otcmarkets? That’s enough to stay otc pink current. They’re not required to be SEC audited just to remain otc pink.