My guess is now that JB is no longer and officer and director, JB will agree to the officer and director ban. I suspect the SEC will not accept that JB is NOT the equivalent of an officer AND director by virtue of: highest compensation of any employee; largest ownership position of any employee; long-term employment contract; controlling (preferred) interest on key votes.
Then next, the company and SEC have to agree on disgorgement penalties. That will probably not be easy as PIPErs aren't going to want to see their funds sent out to the SEC, though they clearly don't want to see the company file for BK either.
If there is no agreement, which seems likely to me, the case will proceed to a civil trial.