That's kind of been my thought all along and one of the main reasons I'm still holding. Certain things just don't add up. Now, although they didn't make an "offical" press release regarding the delisting, they did announce the appeal in some one-line statement on another press release (sorry, can't remember which but I do remember seeing it). The hearing was originally set for March 12. However, since a meeting was called on March 11th, I believe they took that back to NASDAQ and was granted the additional 1 week extension, pending the meeting results. Remember, this is all just my opinion.
So, if they had planned to liquidate, it seems to me they would have used the 45 days to finalize, pay out, and shut 'er down before the hearing date. They didn't. Therefore, it only leaves me to believe that they are in progress of a buyout/merger which, after all is said and done, will produce results to satisfy the SHELL status. Keep in mind that the SHELL status is, as of now, the ONLY issue around the delisting. I know the $1 requirement also comes into play but that requirement is temporarily suspended until April 1st. Which, with news of the merger AND the forward/reverse splits, will, IMO, end up being satisfied anyway.
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