It's not bad news, it's the same news, VHMC has been broke and no one expected anything else. This does help with completing the merger so yeah great news there.
More bad news for VHMC. No amended 8K yet consumating the agreement with GEAR and Scasleeze. Hasn't the 72 days already passed since the NON BINDING letter of intent was issued on February 24, 2016?