The stock will still trade for pennies give or take, on the pink sheets at least until they exit bankruptcy probably a few months from now. It almost looks like they did a prepack so this might not take too long by Ch. 11 standards. But to answer your question in a word, no. They are too far out of the money for the common shares to have a realistic chance of any long term survival. The only chance they had was to do some kind of debt for equity swap but it sounds like they ran out of time too quickly.
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