I'm not an attorney however a bankruptcy judge is going to look at all the facts if there is an asset and debt and obligation they aren't just going to release all that debt and obligation without the sale of the asset being forced. The only time you're allowed to keep the asset as if it's your primary residence are your primary source of income this is neither of those. if you're going to keep the primary source of income there has to be a plan for how you going to be back to a profitable company. just simply selling it after all the debt and obligations been paid off is not viable and no judge would allow it.
I really don't know what's going to happen here at this point. However it seems pretty clear to me the problem stems from the software company. The software company has them by the balls right now and won't finish the tech. Because that relationship has been severed they very well may have to re-engineer all of the software to make this product work which is going to take extensive time and financial resources. To me that's why all of the milestones have been pushed out. It really really sucks and I'm crazy disappointed. Still not selling it just doesn't benefit me to sell at this point.
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