The company has had going concern qualifications on their SEC filings for some time now. it is no surprise they have run out of money. Assuming they have IP in development, the nature of this business is speculation on any of that ever generating enough cash to cover costs. I don't see how a judicial proceeding will be able to project valuation in this type of business. With the Camsing news the company is clearly for sale and the highest bidder will emerge. Speaking from experience, very costly to me, I am surprised how little businesses get sold for. So there is no surprise here.
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