Actually, more agreements that can be exercised without any additional layout of cash resources are good anytime. Not sure what is or isn't permitted with license in limbo but as for share structure preservation, (of which I believe he is after otherwise he would have just folded at kramer's demands)...
The only real hope I see for existing shareholders, assuming there is at least a slow trickle to modest flow of revenue from recent projects; is to use any and all revenues that come in to be split between a slow, quiet and methodical buy-up of as many .0001s to be retired as possible without bringing it out of no bid condition; in conjunction with the renegotiation for cash elimination of ALL convertible debt still on books. And commit to not take on any more toxic debt. And once that is satisfied, start bringing filings up to date.
Then officially PR all updates to see where PPS goes. Depending on where we sit at that point, a modest RS(1:5 still keeps pretty liquid in this environment) approved by current shareholders of record at that point which would make shareholders feel a lot more like investors and the RS may be of benefit to all.
And then stay interactive with actual shareholders through an exclusive page his web portal(or whatever is permitted to keep within SEC guidelines of course) and taking shareholder sentiment into consideration when it comes to issuing shares to fund a project, or compensate him in lieu of salary during times of dryness.
JMO
