I think that is a fair read of the 8K, but I would add that the bullish argument makes a bit more sense. As the company gets closer to actualizing the Rubicon, it becomes far more valuable. IMO. That could be the catalyst for all kinds of nasty stuff happening. The old adage - success has a million fathers while failure is an orphan - applies.
Only thing keeping me in this stock is that CEO has held onto his shares. A $100k salary is nice but not that big of a deal these days. He could have easily sold 10MM+ shares at a price between .10 to .30 during last years run and made some real money but didn't.