Durand, if you have been following this company you will notice that this company takes it's sweet time in doing practically anything. My bet is that we will get an update within two months from the previous press release.
As far as filling 10'Ks, the company only has to file a years worth of 10K's in order to qualify to be relisted. The fact that they stated that two years of 10k's were audited leads me to believe that they will be filled sometime prior to 2012's 10K which is due by March 31, 2013. Why also do they need to file 10Q's when they can file the last two years 10'Ks simultaneously followed with the 2012's 10K due March 31, 2013. And as far as the press release from April, why perhaps things changed, as things tend to not proceed in a concrete fashion.
In addition, to be reinstated in Nevada is no big deal as this could take place in a rather fast fashion in the same way that their website can be started as well which will have all the latest updates and changes.
Last, keep in mind that there are some 30M shares that are owned by insiders. They certainly are not going to sell them for pennies on the dollar here at these levels. Think about it. If you owned say 4M shares, would you want to sell them for what the current share price is going for now. No, but rather you would wait till the share price is in par to the fair value of the companies financials first. It all makes sense now, doesn't it?
PS: I will answer your post later as this I'm calling it a day for me in regards to posting.
