Protagenic Therapeutics Inc. (PTIX)

[windansea]

You stated:
The only other option to merger/buyout is Bankruptcy

I was under the impression that there is also the option of the company slugging it out on its own under "dark" conditions until it either improves enough to come back into the "light", or drift down into oblivion.
I'm not saying this is the most probable outcome, just that it is another option. Examples of this option being used by other companies have been demonstrated on this board.