There is no reorganization plan filed at this time.
If you take the amount of the assets that they have sold add them to their liquid cash on hand less their liabilities and divide by the number of shares outstanding you get a value in the $.38-.$45 range based on your assumptions on the burn rate of legal fees etc. At this point there is only the sale left of the demod business (I don't even know what that is) but its going to sell for something in the range of the audio business is my guess ($900k).
Assuminging they liquidate this summer and nothing else changes the shares are fully valued. I don't see a path how shares could become worthless at this point, less than today yes, worthless no.
There are two catalysts however which could provide more upside. The company should be giving some direction shortly of what their final plan is: do they fully liquidate or do they stay around as a shell of patent licensing business.
1. When they sold the Set Top business and TV business they kept the worldwide patent rights. Selling these assets could bring in more money or they could continue to license them out. Tech Licensing companys trade at an P/E less net cash of between 2x -12x in my limited research.
2. The equity committees going after NXP. NPX and Trident are aligned at the hip. This could get contentious and be expensive for shareholders. However, if successful there may be some more upside.
I have no posiiton in the stock at this time.
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