I have seen a similar instance involving another ticker and similar Toxic Financier (YA Global). Long story short, YA drug it out until the company could not afford to legally continue and is suspected (but not proven) of being behind BILLIONS OF NSS (via the German or overseas markets, that legally can short), resulting in the PPS going from 1 cent to no bid, where it is now. Likely never to recover.
WTF?! You're saying this is the same Phoenix Fund Management that WRFX is involved with?!!!! WorldFlix, Inc. Announces Backing from Phoenix Fund Management for $7.5 Million Equity Investment and Debt Consolidation Date :