"Could legal action from the lenders have forced issuance of all those shares (once the derivative liabilies were calculated as of each quarterly date), even though they weren't yet in compliance? And how would I find that information?"
Yes. There could have been an issuance under Section 3(a)10...stock is immediately free trading. Others will know better where such a case would be filed. Home state of incorporation? If it turned out to simply be a court approved settlement they likely were in bed together (issuer and not holder) to allow the issuance.
But the company should really disclose such an action.
Could legal action from the lenders have forced issuance of all those shares (once the derivative liabilies were calculated as of each quarterly date), even though they weren't yet in compliance? And how would I find that information?
Yes. Fife could have sued the company, and the parties could have settled. The result would be the issuance of a ton of 3(a)(10) stock. And it would have been free trading. Usually 3(a)(10) actions are brought in local courts, so they can be hard to find unless you know exactly where to look.
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