Sorry, but I disagree. There is no real play left here. GS will pursue his claim against the officers of the company for BoFD, but that is a vengeance play not an investment move. Even winning that case doesn't really move things forward for $RETC.
As I have thought about the BoFD case, there is one really big obstacle that GS will first have to overcome. How do you serve the complaint on the two officers? They are both out of the country and who knows when they will return next. So, it is going to be hard to serve the complaint in the first place. Then there is the second problem, with the complete lock that those two shareholders have on the Series A shares of stock, they certainly will move to indemnify the two officers, which means that they will burn up more company cash trying to defend these two clowns. That is why I said yesterday, that I highly doubt that we see disclosed financials by June 30 and we are more likely to see these guys throw $RETC into Ch. 11 BK as a means to avoid all the litigation. And it isn't just GS, I think there will be additional cases brought on behalf of shareholders.
When they file for Chapter 11, they will blame GS for it and say it is all his fault. I can see the statement right now. Something along the lines of:
"Despite valiantly doing everything we could to keep the company afloat during the COVID-19 Pandemic and we are so excited with the development of our new killer app, but unfortunately, the financial strain of the lawyers fees defending against George Sharp's continual frivolous lawsuits was more than the corporation could bear. His continued vindictiveness and abuse of the legal system has left us with no choice but to make this filing bankruptcy proceeding today."
