Everyone seems fixated on the negative equity of $

Everyone seems fixated on the negative equity of $6.5M - that is totally incorrect. As the section below specifies TANGIBLE, the computation is Assets $143,762 less Intangibles $12,462, less Liabilities of 150,296 = ($18,996.)

5505. Initial Listing of Primary Equity Securities
A Company applying to list its Primary Equity Security on the Capital Market must meet all of the requirements set forth in Rule 5505(a) and at least one of the Standards in Rule 5505(b).

(a) Initial Listing Requirements for Primary Equity Securities:

(1) (A) Minimum bid price of $4 per share; or

( Minimum closing price of $3 per share, if the Company meets the requirements of the Equity or Net Income Standards under Rules 5505(b)(1) or (b)(3), or of $2 per share, if the Company meets the requirements of the Market Value of Listed Securities Standard under Rule 5505(b)(2), provided that in either case the Company must also demonstrate that it has net tangible assets (i.e., total assets less intangible assets and liabilities) in excess of $2 million, if the issuer has been in continuous operation for at least three years; or net tangible assets in excess of $5 million, if the issuer has been in continuous operation for less than three years; or average revenue of at least $6 million for the last three years. A security must meet the applicable closing price requirement for at least five consecutive business days prior to approval.

Looks like the cure for this will be after unblinding, when a short squeeze takes the stock over $10, then sell say 3M. One has to remember the covenants with Fife, can't sell below $10 or Fife gets cheap shares.