Yes and no. In theory, bankruptcy is the cleanest way, but, in order to do this, a company must have the means.
RLTR has no assets, no revenues and a lot of liabilities. Any lawyer is going to want thousands of dollars up front. 10K, 20k, maybe more. So, who is going to give the lawyer the retained? Ar you? I am not, and I know MF is not, and I very much suspect that neither Bev or MG will do so.
And then, if you give the attorney money for the work, you also have to give the attorney money to pay the bills on behalf of RLTR. Unless one has owrked a deal with taxing authorities, no money can be placed in bank accounts because it will be readily confiscated to pay the tax liabilities. Are you going to fund the bank account?
If a company has assets and revenues, it can work out paying arrangements through a court, etc, but when there is no cash flow, this avenue is not open. Furthermore, if one goes into bankruptcy court with the financial details of RLTR, the judge may just grant a lender complete control of the company. Lenders will call it a loss if they know the company cannot pay, but if one goes to court, the lenders are giving another opening. Bad idea in this case.
There are only two avenues open to RLTR:
1.) Start doing business of any kind and hope the taxing authorities work a payment plan,
2.) They sign a deal with EnabledWare, or some similar outfit, by which the partner runs the technical part of the business on behalf of RLTR: pays the content providers and collects the revenues, and then give a little bit of that money to RLTR for services that include content acquisition and marketing.
Thus, for every dollar worth of renevue, the content provider would get about 60%, EnabledWare would get 40%, with one to five percent being channeled to RLTR. If the government takes the money, it won't be taken up front, but from the small cut that would go to RLTR.
After one of these things have been done, then, BK would be in line, but not before.
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