Looks like new Naz listing guidelines came out in
Post# of 36537
https://www.google.com/url?sa=t&rct=j&...TrIkxgVSHj
Check out page 10 for the Naz Capital Markets.
There is no $5 threshold shown, only $4/$3/$2. Looks to me that, if we assume Joe has covered the corporate governance pieces (looks good as far as I can tell), NGIO would seem to meet the Market Value of Listed Securities Standard.
So if capital is being raised for GNBT thru the IPO and (possibly?) for NGIO thru one of the (3) S-1s, those would be the one possible open item I see.