Yooo, filing Form 211 and getting it approved by FINRA would be the LAST step in a long and arduous resurrection process, if that is, indeed, what JC is planning to do. The challenges along the way would be immense.
In fact, since NEWC stock will likely be cancelled, I don't even know how JC could distribute new stock to his old NEWC shareholders. I suppose he will need documentation from the current transfer agent as to who holds and how many shares are held by every individual shareholder at the time NEWC shares are cancelled. Seems very unlikely to me. But if you are unable to sell your shares in the grey market BEFORE NEWC shares are revoked and cancelled, I suppose you can continue to hope this most unlikely scenario will eventually play out and you get new shares in a new company run by JC. If it was me, I wouldn't hold my breath.