I'll admit I don't know all that much about NASDAQ listing requirements, but I did look at their website.
The way I read it, the only continuing requirment they are in trouble with is the $1/share. They have over $10M in equity, so they would only need a market value of $5M, which they have right now.
Their site says that they can apply to move to the Capital Markets section, which buys them a 180 extension, with a possibility of a second 180 extension. I don't know about their Capital Markets section, whether that gives traders the same access or not. Anyone else know?
Their market cap has to be 15 mill (stock price around .74) then they can apply for capital markets section thereby giving them another 180 days to get above $1. The key is getting the price over .74. Can they do it before June 14th? I sure hope so.