I'm up for the discussion. :)
I'm working all night tonight so I don't know if I'll have time to gather more info before someone else responds but the link I provided for the Initial Listing Guide is directly from the Nasdaq. There have been other posters here that I have concluded are credible that have mentioned the same $2 requirement. One of them was Bumblebee, I believe, and he wrote a very long and detailed post on the subject that should be read. I'll try to find it later and post it if you can't find it on your own.

As far as the need for the RS, I think the same need for a buffer applies with $2 as it does with $4. The RS may not be solely for uplisting to the Nasdaq. It may be to stay in a price range where the proper investors can support the stock price without violating their own buying covenants. I think management is being prudent to keep it as an option as no one can predict the market. Who saw the drop to, I think it was $.65 last year????

I'm not saying I'm not wrong about the $2 listing level as it's not my area of expertise, but from the information I've seen, that's the number I'm working with. I'd appreciate feedback from anyone who has previous experience with a company uplisting to the Nasdaq or someone working in the business.

Thanks for the PM as well, QuantumX. I looked at the link you sent but it's not a definitive list of requirements for the Nasdaq and all its tiers. It's an overview of a number of exchanges put together by a third party.

Green