Latest update shows an extension granted until December 2013 to get their 10Ks and their 10Qs (not just their 10Ks) up to date. They have already hired all of the parties involved in getting the filings together.
Seems like it would be a wasteful effort if they thought they would lose the involuntary bankruptcy fight. They also expect more financing to come. Last one as I mentioned is convertible at .15/share even though the stock is at .045/share.
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