Have you looked at the date of the press release where Pawson said he was going to refinance the various properties? It doesn't take this long and banks eventually have to declare defaults by law if the interest isn't being paid. Even hard money lenders(remember Stuie) want financial statements. Have you forgotten that the accountant ran ? Have you forgotten that rule 10b5 was violated (regarding the stonewall note accounting and convenient failure to mention that another assignment existed for the very same note)? Delisting only benefits Pawson. He doesn't want the sec to be looking into his scheme. Minority shareholders in private companies (especially Nevada corporations) have basically no rights to force Pawson to do anything. I sincerely doubt any property cal-bay might own is worth half as much as Pawson has said. Moreover, if Pawson is able to sell any of the real estate before the banks take it over, any equity will be taken out by paying himself a salary. Other shareholders will get nothing. Lawsuits would have been filed by now for fraud and misrepresentation if the lawyers thought there was anything to recover. The only one who might recover, is the first person to have tipped off the Internal Revenue Service to investigate the scumbag and all the so-called transactions that took place and the parties on the other side. The IRS does pay a reward. Remember that.
Speculation on my part, but I don't think anything is left. All the property could have been transferred out, with the deeds just not yet publicly recorded yet. Pawson is not going to attempt to save this company by filing chapter 11, because he then is under the jurisdiction of the bankruptcy court and has to answer questions. If he hasn't given the real estate back to the mortgage holders by deed in lieu of foreclosure yet, he will arrange to sell it at a loss to another entity he owns or will create. If you expect to get any satisfaction you might have to call in some favors from some of your old cell mates. This company is disappearing before your very eyes. Now you see it , now you don't. And Pawson gets away with your money with no questions or accountability required.
JMHO.
