Yeah, sure, they’ve got “legitimate operations, a new direction, financials, funding, and more” just a few weeks after telling the court appointed US Trustee they’ve been dead out of business with nothing to show other than debt. A “memorandum” is going to play well against an SEC Special Counsel’s citation of the applicable regulations on reporting obligations in that US Trustee’s motion to squash the sub-chapter V election.
If they had a “new direction,” why on earth would they want to toss it into this debt ridden, dead shell with 3B shares outstanding in the first place? Why wouldn’t they just start over, let the courts wipe this corporation off the books and set up something new?
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