The BOTTOM LINE is this...... Atwell is seeking yet another RS. In fact, he (allegedly) had a deal in place to finally get those filings updated, but it was contingent upon another RS.
Then the SEC stepped in and said, "not this time". Basically, if Atwell wants another RS, he MUST FIRST release those filings dating back to 2010. If he does not, then no RS and, likely, no Camelot. He'll be forced to sell his company to parties more competent than himself if he cannot get those filings out there.
We'll see what happens....