I took a quick look at BABL - all I could determine with any certainty is that it's a very convoluted story, and that the market has decided it's a failed merger. It would take many hours of digging to get to the bottom of it, but I bet you can find a few sensible traders on the BABL board who have assembled a rational assessment of what's happening there. If the SEC compliance deadline weren't looming I'd consider a small position in case a miracle happens, but there are only a couple weeks for a miracle, so imo the risk is too enormous to mess with it unless some positive information comes to light. Just my opinion based ten minutes of reading, so mine is a non-expert opinion in this case.
I never give buy/sell/hold recommendations or financial advice. Be careful with your investment dollars, especially in the pink sheets.