You have to have debt to file for corporate bankruptcy. The entire purpose of filing is to eliminate debt. If there is no debt than there is no bankruptcy which is the case here. To even mention bankruptcy at this point is entirely incorrect and makes no sense IMO.
If for some reason 3 quarters down the road they do not have a buyer (highly doubtful) then you will see the company first dilute with shares to provide additional cash flow. Again, No debt no bankruptcy.
If they had a huge amount of debt then your scenario may make sense (9 months from now when cash runs out). They don't so there are waaaaaaay more positive possibilities then the bankruptcy doomsday scenario you state.
Especially considering they just paid of ALL debt 3 months ago. Why do that then?
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