Quote:...".If the future is so bleak, why file? "

That answer is very simple.
A holder of restricted stock can not sell the securities unless a company is current.
This company issued millions of restricted shares over the years during it's different management phases and numerous financings.
As well as paid many contractors and suppliers in shares.
It is not a good scenario to issue all those shares and then screw all those people over by making them unsellable.