It's called stupidity. The company pushed too far. Asher won a court judgement. Meanwhile, the SEC was trying to contact the company. The company received the warning. Since Asher was taking the company away, the company did not care. Now ... Asher took possession of a valueless trading shell that will be revoked and buried. It's like a cremation with no headstone.
Regardless i think they could have settled with Asher with a couple hundred million shares and Asher would have gotten more than what they were owed . But there's a reason they didn't.