There is no $1 requirement, the minimum is $3, among other requirements that must be met (over a span of several years). Baltia at $3/share gives it a market cap of nearly $12 billion. It'll take a while before that happens. In the meantime, I'd be THRILLED if we could get to .10/share in May. 

https://listingcenter.nasdaqomx.com/assets/initialguide.pdf