The question is phrased incorrectly. The SEC is there to protect and help shareholders - not companies. In that regard - if HJOE made a compelling case that going dark WAS in the best interest of shareholders (vs grays) and showed compelling evidence of why/how they would be able to resume trading stronger than before - then the SEC would be protecting shareholder interests in accepting/ratifying HJOEs arrangement. They would have conceivably shown the communication with PLN that lead down the toxic debt route, attempts to settle with toxic holders, and existing revenue streams that would provide a legitimate path back to trading to support their position. Obviously the SEC saw something compelling to allow them to go dark vs the grays where 0shareholders would have been eviscerated.

If/when they come back - they will have to follow the steps laid out and get the SECs approval. Since they avoided the grays with the SECs approval - they should get assistance with the approval to resume trading as that ultimately benefits shareholders.