.12 is LITERALLY 150,000% higher than what they paid.
An NT-10K does not create "non compliance", though not filing within the alloted 15 extra days would move them to a "No information STOP" stinky pinkie.
They will do an R/S,but it won't go to $.0001, though it might well go sub penny. It's just necessary to get any new investment, which presumably they want, since they can't just dump their 70.9% easily.
They had bank loans well before taking over TGLO. That's one way for them to raise money, but it's not the only one. And yes, they will have to reduce the value of current holdings first if they want outside investors to put up big money. No one wants their capital to be diluted 300% (if there's no reverse split or increase in the A/S) or even 30% (if they relinquished all their ownership).
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