Without seeing what the general criteria is, it's hard to...

Without seeing what the general criteria is, it's hard to comment. Just because it says "general' i would not assume that meaning something very basic and simple. I am not familiar with the process, but i am assuming the application and supporting documentation to be very complex and of a scientific nature given the technology in question. Anyone in business where you deal with government and other bureaucratic institutions would be familiar with their notoriously unintuitive interface with private sector so while disappointing this is hardly surprising. Whilst i'm not impressed with yesterdays happenings, i would have to acknowledge the company has been quite measured with their messaging to the market while i have been a holder.
We will find out more info soon once the follow up announcement mentioned today is released. From there it will be be for the market to process this new information brought to light today. The silver lining in my view is the AMA is communicating with EIQ regarding the 'deficiencies' in their application while outlining pathway to resubmit. The code was never guaranteed to start with so the letter demonstrates ongoing correspondence with the AMA about the pathway to the code (despite the initial rejection). Will be interesting to see how the market reacts upon resumption of trade.