Be glad the SEC did look and stopped events...
Or this could have been a real disaster. "returns" is correct - why wasn't everything cleared beforehand? This is my guess: you have R & D types running this company. R & D people are the "propeller heads" that, in the real world, aren't allowed into the board room (because their oversized brains are not organized that way).
Someone seasoned, with experience in this unique area, from the legal/compliance side of things, needs to take charge. "PATB" mentioned where has the BODs been in all of this? Excellent question, too.
First is needed a re-do of the PRs issued, WhitePaper revisions, re-set of every communication to the public. They are in conflict with one another. The SEC eats that alive.
Simultaneously, a legal review of the KLK stuff also looked at from top to bottom.
Most importantly, get the prototype app done and tested ASAP.
IMO