Putting it simply -
To relist on the Nasdaq, a company must meet a minimum bid price requirement of $4.00 (or sometimes 2-3 under specific net income/equity criteria that doesnt apply here)
With ELTP trading around $0.30–$0.35, the only viable way to achieve uplisting by February is a 1-for-10 or 15 reverse stock split.
In other words, they've diluted the stock so much that they need to reverse split and then dilute it even more to keep this company afloat. Why the fuck would want to invest your money in that?
Please save yourself the trouble. Some penny stocks are worth the risk, this one isn't.