SEC would have crushed him by now if his last hopes of late filing wasn't accept
Not necessarily true. A lot of companies' fates won't be decided until September.
Also, your 8 steps are a little off. This isn't just a device, it's a surgically implanted device. There would need to be medical trials that would involve surgically implanting the device in clinically diagnosed Alzheimer's patients. It will not be an easy process.
PS - It's "moot" point, not "mute" point. Sorry, one of my pet peeves.