From what I've read, the OTCBB has a "three strike" rule. Can be late twice and recieve an "E" designation each time, which is removed upon filing. The third time the stock is removed from the OTC and a hearing is set up if the company wishes to appeal.
AAVG will not be removed for being late once, if in fact they are late.
"The cynic knows the price of everything, but the value of nothing"