Beware, this stock will be cancelled once the bankruptcy in progress is completed. The assets have been sold, all that is left is to rack up the accounts on the books, distribute the proceeds to the creditors, cancel the remaining debt and equity. There will be nothing left, not even bags to hold.
There is nothing more coming, neither to the company nor to common shareholders, and no parsing or other manipulation of a few words, phrases, or legal statements in the monitor's reports to the bankruptcy court and associated documents will change that. There will be no reverse merger, recapitalization, or any of the other fantasies pondered, all those are code for "please don't sell your stock while I'm selling mine, better yet, please buy my stock." The current state of affairs this is a shell with no operations nor assets and about $60M in debt. No company in their right mind would take on that much in liabilities to go public when there are better shells and IPO's that could be done for far less.
There are no institutions buying this stock, they didn't get to be institutions by being dumb enough to buy stock in a company in bankruptcy whose assets have been liquidated. That narrative has been created using outdated and flawed data. Some institutions have been validated to have sold their holdings, and all of them will provided they find a buyer (the narratives and fantasies are surely helping them). They are not stupid.
When the stock is cancelled, shareholders will lose 100% of their investment.
