I'm guessing that MMRF would get new management before any BK filing in order to distance Lorsch and -- perhaps more important, Wifey -- from the stench of failure. Installing new figurehead management is a common pennyland template and that's what happened with Lorsch's disastrous Smartalk in the late 90s. There Lorsch faded from view under the pretext of not wanting to move with SMTK from California. SEC regs then didn't require an 8-K filing to announce officers' resignations. As we know, somehow Lorsch reappeared about a year later to take credit for selling off SMTK assets, a sale which did nothing to help shareholders.
The question I have is how much longer will Lorsch keep the costly Wilshire office suite. With its guarded entrance, that 2nd floor location is ideal for operations that don't want inquiring outsiders snooping around.
I too can't imagine that MMRF will last much longer, but will another Lorsch Pennyland venture follow it? Perhaps not. This isn't 1997. Everything I see tells me that penny stocks -- indeed most stocks -- are difficult sells these days.
So I'm watching for a "for rent" sign on 4401 Wilshire. But another Lorsch endeavor there is a possibility. Either way, it doesn't look good for the moribund MMRF.
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Because the Good Life is Just a Pump or Two Away
