I see NASDQ as the key player in resolution of this mess:
Since I believe the basic problem was the pledging of cash as collateral to other board directors, will NASDQ let CCME 'catch up' on required 8Ks, 10Qs, and the 10Ks where they failed to identify these legal, but unreported transactions? Will NASDQ overlook it all as 'a Chinese misunderstanding of US securities laws'?
We know what DDT did when faced with this dilemma, they bailed. Piper will find the same facts, present the ultimate solution to NASDQ (file and refile a pile of documents) but will NASDQ want to get its hands dirty by overlooking the ilegalities and bail also?