We can only wait for Jeff to step up and say something publicly and factual. I am hopeful Frank and or Jeff have a lot to lose here with the many shares they own. My guess is a new model will be forth coming hopefully with some funding. In the meantime as a responsible CEO Jeff needs to give us some actual facts. The CEO is responsible to the shareholders. There are many laws upholding this.
if a company received 10MM in reserve equity then I would say those investors thought the business model was sound. My guess is a new board will be formed.