SKBI - I am short, but two things surprised me:
1) auditor has not resigned (chiscam auditors especially usually resign after uncovered fraud)
2) company bothered to issue a press release for an issued patent if they plan on throwing in the towel
Even if they decide to request a hearing, with surfaced bank fraud and exploding accounts receivable as noted in the last NT-10Q, I don't think there's much to be bullish on or warrant a higher pps.
I think there is the possibility they drag this out to allow for activist bag-holder John Gregory to exit.
"Sometimes you eat the bar, and sometimes, well, he eats you."