"they have until the end of March to act like a legitimate reporting company"
That would be true if all that was required was an audited 10K for 2010. But first they must accommodate the SEC's request per their letter of 12/6/10:
"In order to bring your filings current, please file your Form 10-Ks for the years 1997 through 2009, including audited financial statements as soon as possible."