I think we're just waiting for someone to blink, namely Ed Marshall.
The way it stands now, Marshall stands to not only lose everything but face an expensive law suit that he could very likely lose and leave him qualified for food stamps.
He is clearly in a precarious position.
If things go forward and the company is put to rest, his whole life's work evaporates before his eyes and he could end up in his late 70's broke.
On the other hand, the much younger new management is has a much stronger position. They could lose some invested money and have a nice tax write off. They can move on. However, my suspicion is that they still have an interest in Medizone and are not throwing in the towel just yet. They called Marshall's bluff and, unless he is a total fool (which is a possibility) I bet he will throw in his hand soon.
Where that leaves us is anybody's guess.
