PSUN is dead. As the company goes through BK proceedings the creditors will get first dibs at what ever is left. Bottom line is in 99.9% of BK's the shareholders are left with nothing but a tax write off.
I have seen it go both ways. Look at an American Airlines that went from .45 on BK to 45.00 after BK. It will be up to a judge to see what happens to the commons.