Moller International from the last SEC filing for 2015 showed an accumulated deficit of $57,283,369. This represents $40,328,642 in stock value at a price of 40.4 cents a share and $16,954,727 in cash debt. All of the internet articles says he spent $100 million (I assume with inflation). The only so called "valuable" asset that Moller Int. has is some promissory notes from Freedom Motors and keeping rights to use the Rotapower in aircrafts. Getting a fresh company listed on the OTC has a rough cost of between $200k and $300+k. From a financial perspective it makes sense to just let Moller Int. fail so that all that debt is wiped out. He then could start a new company called say "Moller Vertical Aircrafts Inc." and create a new stock listing. After all, Moller is his name and it is his defense. Because his rotary engine modifications are secret (which technically means the modifications don't exist), when the patent applications are placed in the Patent Office after Moller Int. fails, they are just assigned to "Moller Vertical Aircrafts, Inc." and have not legal connection to Moller Int. At the end of the day even that promissory note for the Rotapower does not exist because Rotopower is nothing more than a trade name and trade names is irrelevant to patents.
My conclusion is that all Moller Int. shareholders are #$%$#! if Moller chooses to do nothing.
Shareholders could however petition a court to place Moller Int. into some sort of receivership and put in place new management and then change the name of the company. The only value that I see that currently exists is that Moller Int is now trading on the stock market meaning that investors have immediate liquidity. This would be best accomplished by an investor living in California as California courts would have jurisdiction. Maybe Federal if your principal investment exceeded $75,000 to obtain diversity jurisdiction. However any investor located anywhere can bring the case, they just have to deal with it from a distance and hop on some cheap flights. The filing fee as a pro-se is less than $500, the lawyers would be the major cost but if you are determined and have the mental skills you can do most of it yourself and consult with an attorney (Judges like to see attorneys getting paid). But all of this can be recouped if it is granted which it has a strong chance due to the non filing and inactivity.
Involuntary bankruptcy filing may be another route as it would instantly stop even SEC actions (such as a delisting) but there are other consequences.
