This thing will be halted until NASDAQ is happy, and given how these situations often play out, that could be years since the company is not really interested in trading any more. After all, they are closing shop, and paying out shareholders. As far as they're concerned, the warrants are expired and worthless. They waited until after 07/14/2012 to pump out their PR. I'm sure this will end up with plenty of lawsuits, but in the end, the only people that will win will be the lawyers.