Why would they ever need to file for bankruptcy? To even suggest so would be ignoring the most basic facts.
They are authorized to issue hundreds of millions more shares, which will safely help them make payroll each month. The name change, and ticker symbol change, will help bring in new money. When the shares are exhausted, do another reverse split, increase authorized shares, change name, repeat. It is not difficult and GTEM/ADGI has been doing this for 18 years now.