Whether or not...
it is "legally" within their right to WITHHOLD THIS MATERIAL EVENT until the LAST POSSIBLE MOMENT, it is a BLATANT disregard for both current shareholders as well as potential shareholders to HIDE (yes, IMO that is what it is) this very SERIOUS and SEVERE situation until absolutely necessary.
To me, it borders on breach of fiduciary responsibility.
The SEC's "expertise" takes time, with the overload they have, to fully investigate a company, like AERP, and take the proper actions deemed necessary.
I believe the SEC will act, it's just a matter of time.
IMO/FWIW
"Taking advice from known stock promoters is like telling a pickpocket where you keep your money!!!"