Humbly agree, FG, it is possible that the short term effect of the IFTP [insert your guess of whatever it is they're doing] will be some short covering as well as some shareholder selling. Dat's da markit, and da markit moves, and will move 'cause folks will read what they were served, each and every one of them -- differently.
Long term? Who knows? Common shareholders cannot make an intelligent decision as to what the heck the "new" company will be, really, at present.
Now, can this be traded? Sure, anything can be traded. But, (if I were trading OTCBB in the first place, not) it makes more sense to me to trade stock of companies whose corporate structure (as it relates to the common share) is defined.
I understand your tolerance of risk is a lot higher than mine, so this post is in no way meant to lecture you regarding your choice to play this stock one way or the other. I'm just humbly sharing my humble thoughts.
Cheers,
Svejk