Hi Tom -
Knowing some of the "players in the game" pre-CYPW days (before July 2007) the current state of affairs reminds me of the micro/mini-cap "biotech IPOs" that were big around 10 years ago: The "ringleader" would gather unsuspecting bio-tech people and existing tiny companies that claimed questionable technologies. He (or she) would assemble them into a larger company with promises of many things, including (and especially) enormous stock value. The main purpose, of course, was to insert this "biomass" (all puns fully intended) into a shell and then flip it ASAP, reaping good rewards for the "ringleader" and anyone else "in on it".
The key item was that the technologies claimed by the tiny companies never panned out. The associated claims - and the resumes of the selected individual "biotech people" - were merely used to establish enough "street cred" to enable the flip and motivate buyers of the security. Everyone else was an unsuspecting "mule": quite active in the drama but not knowing the real script (e.g., CYPW's many advisors, directors, specialists that have come and gone over the years).
So, once the value was extracted by the ringleader (and cronies) after the flip, what was left decayed in value as the reality slowly sunk into the market that the alleged "biotech breakthroughs" were not real.
My take on CYPW: initially, the insiders may have really thought that the tech would work. Now, the reality is setting in that it's not commercially viable and various financial and organizational moves are being made to extract whatever value can be extracted and avoid giving cause for shareholder lawsuits.
I've seen this before in many guises...
