they could easily downplay this for their benefit imho
does it make sense to you that the 10K filed before bankruptcy indicated 100% of the common stock was owned by the insiders --why would they need to cancel the stock and destroy the NOLs?
I actually communicated with the lawyers before but I thought it sounded fishy given the fundamentals of the company
they filed a Form 15 years ago to eliminate SEC reporting requirements but on 2004 they filed a 10K before bankruptcy filing showing massive NOLs and very tiny share structure