an unfulfilled purchase order received in 2013 won't convince a judge (or any smart person) that CDNL is a viable business, but that's not relevant to this hearing.
The issue is that CDNL failed to meet its reporting requirements. Furthermore, it failed to notify the SEC of a change in address. Furthermore, it gave its answer to the SEC's challenge late.
Despite all that, the SEC is willing to say "ok, we'll let you present some evidence on why we should go easy on you.". Let's not mistake their indulgence for a desire to judge CDNL's business model.
Other posters have said the only negotiation happening is whether CDNL will be allowed a voluntary delisting vs. an enforced delisting. I don't know if there's any other options on the table, but I don't see why there would be.
KJ lied about audits ongoing for years. Compared to that lie, the sideshow about fake Cameroon deals is irrelevant, especially as the SEC is concerned.
