SPIN, The recent SB-2 should be enough to keep the doors open unless Cornell withdrew their offer. However the recent turn of events with the CFO having a felony charge outstanding makes me wonder how these guys even made it as far as they have.
I wouldn't be surprised if someone filed a lawsuit regarding fraudulent PR's based on the PR about the .40 cents a share as it was never disclosed in that PR that there was a minimum bid the company needed to be at for this convenant to apply. I would think Cornell is at fault too as they should have disclosed this as well.
Truthfully, bankruptcy would surprise me for the simple reason that I'd think Walt would lose the $1 million in assets he pledged for the SBA loan. I can't imagine he'd be pleased about that tho I must admit it might give me the warm & fuzzies.
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