Dead.
Even if Steve does come out with something positive at this point, it will take a VERY LONG TIME for investors to gain trust back in this company and in Steve Aronstein.
There's a simple question any new investor is going to ask - you screwed over old share holders through deception and lies, what's there to say you won't do the same to us?
If this is ever going to show signs of life, Steve will have to come out with positive news, present to us a board of directors for the company. Tell us what is going on rather than what he's hoping for. Then may be after a few years, this will start breathing again. As for now, this is dead. Without a board of directors, if Steve gets run over by a car tomorrow, there's no one to keep this company going. Everything depends on him at this point.