No kidding Sherlock. The only standard NVIV comes close to meeting is the 'Market Value Standard' (page 8-9 in the guide you reference). This requires shareholder equity of $4M. NVIV has negative equity.
Listing Requirements for All Companies
Each company must have a minimum of 1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company. In addition, the regular bid price at time of listing must be $4, and there must be at least three market makers for the stock. However, a company may qualify under a closing price alternative of $3 or $2 if the company meets varying requirements. Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360. Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.
Listing Standard No. 1
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.
Listing Standard No. 2
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
Listing Standard No. 3
Companies can be removed from the cash flow requirement of Standard No. 2 if the average market capitalization over the past 12 months is at least $850 million, and revenues over the prior fiscal year are at least $90 million
The listing requirements that you cite are out of date. They were amended (I think in 2012, but it may have been earlier) to more readily include small-cap companies particularly in developmental tech and biotech which have been (historically) NASDAQ's bread and butter. Additionally, the NASDAQ board can, upon application and in good-faith, waive any of the listing requirements should a compelling case be made to do so. Finally, NYSE's requirements are much less stringent than are NASDAQ's particularly in the DMM arena as well as with regard to PPS and earnings, so even if you WERE correct about NASDAQ (you aren't) the NYSE still beckons.
Heck, if EBT were an issue there wouldn't be a developmental biotech firm listed on NASDAQ - have you looked at the population of the Russell indices lately?
IMO the application has either been approved (by the NYSE) or is pending approval (from NASDAQ) while the MMs get their ducks in a row. Since neither approval nor pending approval is a material event subject to SEC disclosure rules the Company could well be waiting for a coordinated event (commencement of Human Trials or the SCI Awareness Day in mid-September in New York City or both) to get the most mileage possible from uplisting.
Bashing is one thing - this kind of purposeful disinformation is something else entirely.