Despite their attempted ban on information, stuff does leak out. That is one reason why I keep begging them to focus on public channels for providing information. But that is just beating a dead horse, because they just don't get it or they don't want to hear it that their strategy for handling corporate communications is highly problematic. So, we rely on leaks and the few puzzle pieces we have.
Based on everything I know, I do believe that they continue to work on getting SEC approval. This tallies with the lack of posted SEC correspondence subsequent to IDLM getting the okay on the VIE debacle. This also tallies with Haddock still being at the company. I highly doubt that Frasier is paying him that salary just to (not) sell hats and t-shirts. (Frasier does not suffer losers gladly, and Haddock has yet to sell his first hat or t-shirt.) The goal still remains for Haddock to somehow step up and (a) put out honest and clear financials, (b) get SEC approval, and (c) become the public-facing side of the company. I know it sounds ludicrous based on Haddock's track record, but I am convinced that this remains the plan and that this is why Haddock is still at IDLM.
The big question is whether Haddock will measure up. The PPS at 5c (apart from paint jobs) tells me that people are betting he isn't up to the challenge. I remain somewhat optimistic that he will eventually see that the combination of transparency and honesty is the best policy and that the rest of the issues can be solved by hard work.
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