IMO what we are seeing here is an example of the importance of momentum on the OTC. The filings probably should have been mostly drawn up in advance and released on a set schedule to ride the wave of excitement following the r/m. Instead, we went a month with nothing except the s-8 where we trickled down from .01 to .004; fence-sitters probably lost interest/stopped following after a few weeks. The OTC moves fast, and I'm sure they found other plays. The 8-k provided some interesting information and reflects real estate holdings, but now us bagholders have to wait even longer for the company to show cash flow and file through enough quarters to drop the CE.
For long-term investors I'm sure there is no problem here. For Frank, he has all the time in the world and the PPS hardly matters until he is ready to sell/retire. For people that were looking to make a quick buck, doesn't look like it's happening for awhile.
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