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Basically, in line with what Renee said, this

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Saipter   Wednesday, 06/24/20 04:09:59 AM
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Basically, in line with what Renee said, this stock will eventually be delisted.

In the article it states the SEC wont guarantee any further enforcement action which causes the MM to not want to take responsibility for the form 211. The article further states only 7 out of 3000+ tickers have ever properly traded again off the greys.

The only way I could reason a custodianship proceeding being successful and keeping the ticker from delisting would be to simultaneously file a custodianship proceeding in Nevada (state of incorporation) and an action against the SEC asking the court for a TRO and Temporary injunction against them delisting the stock. And as part of the settlement agreement having the SEC agree to not enforce further action in relation to the old companies operations and board (so a MM would file a form 211 and get it off the grey market).

So after a LOT of research I can see a way, but it would definitely be an uphill battle.

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