in their last report the company had about 2.7 million in outstanding convertible debt (that would about 77 billion shares if converted, depending on the conversion rate).

So debt is a huge deal.

So far since then the company has announced forbearance with 2 of the debt holders totaling about 40%. They have a way to go, but I think they believe they will have the cash to head all or most of them off. There are about 5 note holders that make up over 90% of the remaining debt, so if they focus on getting the same sort of deals with them, or get other conventional financing to pay them off, they will be in pretty good shape.

It all comes down to revenue. The company has stated it is getting better, and the next real proof will be in the next filing, which should come out this month.

Full disclosure, I own this stock. I think the company will recover but I believe it will take time. This for me is a buy and hold long term.