Us peons have no clue about the underlying details, but everyone is free to speculate. The "official" rationale belongs to the SEC and the SEC will not provide further details outside the actual Trading Suspension Order, unless the Company files a Form 550, hoping to get the Trading Suspension reversed. FYI, the success rate related to Form 550 filings is microscopic.
The following was copied directly from the SEC's Order of Suspension of Trading. It doesn't appear there is any specific connection to the purported "new company".