Means just what it says. Company has until stated time to get market value back up to approx. 1.28/share for a period of at least 10 days or raises enough equity.

Use to be kiss of death to get sent to 'pink sheets', but since Sarbannes Oxley, lot of companies trade there and their marketplace is electronic, so other than a little prestige, and sometimes a small loss of liquidity no real damage done. A ton of good quality companies trade there including tons of bank stocks and some major stocks too. Nestle use to trade there, don't know if they still do but there are a lot of serious companies that do.

A lot of companies don't want to spend the money and do the requirements that listing requires. Generally, financial reporting requirements a lot less strenuous so you get a lot of POS companies too. So you have to be  little more diligent when you're trading stocks on there.