You raised a good question, so I called nasdaq to check and was told the answer is if the PPS is $2, that means we can only apply under market value standard..so we can’t be qualified under the equity standard even if all the other conditions of equity standard are met, because if the PPS is not $3 then that means we can’t apply under equity standard.

Feel free to double check with Donohoe or nasdaq if you’d like...but unfortunately that’s what was told to me.

Thanks for digging into the regulations!