I doubt bankruptcy is even being considered. The only "creditor" if you want to call him that, is ex-CEO Carl Kukkonen. The "company" owes him for "salary" that was deferred.
Unless Carl seems to think he is still owed this fake salary, for running a fake company with fake press releases & contracts, I don't think bankruptcy will happen.
If anything, the company will just go dark/defunct and fade away. Schewe seems perfectly happy breaking SEC laws by not updating financials. But I bet he is still being paid by the magic hand lotion company somehow.
Just my opinion.
News 
Market Data 
Discover 
AI
