Kev,
The smart thing would be to just let it go BK.
There is no way they could make it into a viable "shell".... At least not one that someone would want to touch anyway IMO. They would have to do a Reverse split first, get the filings up to date, find a company who would want it, then that company would RM into it, have to change it's name etc, etc, etc.
If Jensen just let's it die, it goes away. He's gotten a lot of money out of it as many others have. It's served it's usefulness.