So, COSI was pretty much forced into making that statement, which at the end of the 8-K states that it would only take that action if necessary. Looks like they are serious about maintaining their NASDAQ listing. Getting the PPS to $0.80 and then a r/s would keep them on the NASDAQ Capital Markets. Getting to $1.00 will get them back on the Global Markets and a r/s will not be necessary.
Looks like they will get a second life-line until second-half of May 2013 to regain compliance.