This is a Joe Arcaro R/M play. I just plus oned all the hearing information up top. He has done this type of thing in the past and is probably the best at it.
Started getting attention this week because of the limited number of seats available(only 34M float, can't dilute either because not current). Over 90% of the 499M O/S is restricted.
The hearing is to grant him custodianship of the shell. If granted he will then own it, he will clean it up (get off the SEC delinquent list), get it pink current and then find, or has already possibly found a suitor to buy it and RM a new company in here.