I never said anything different to most of the points in your post.
What I AM saying is that even if made as the "Standing order", it matters ZERO to this proceeding. The ID was never finalized, never took effect and means essentially NOTHING until the Board decides what to do with it.
And if DBMM doesn't like any decision put forth by the Board? Yup, I agree, they have every right to try to take it to a higher level. In fact, I hope they HAVE to. Taking it further will mean MORE time, MORE money spent, and will drag DBMM further down into oblivion. And even if they HAVE to fight any Board decision further? There's nothing cast in stone that says they will win in the end. They MAY....they may not.
And even if they DO win against the SEC in the end? Here's the plain cold hearted truth. DBMM's business sucks to date. They can't make a profit. If they keep the same business plan they have now? They will FOREVER BE a penny company, never earning a profit. And will be worth cents on the dollar per share, no matter if they do win against the SEC.
Bearish