No, that is wrong. Cancelled is correct. Just because you don't understand finance and bankruptcy law doesn't mean you get to make up your own BS and claim it to be right. The claim about "deleted" vs. "Cancelled" has no factual basis of any kind.
The stock is cancelled. The ticker will be deleted by FINRA. The value is ZERO. Permanently. Nothing will change on Monday, or on Tuesday, or Wednesday, or any other day to infinity. It is over.