It can be the end although some do that as their way to get back. A market maker must sponsor and assumes the liability which makes the MM quite leary because the maximum 10-day suspension and removal to the Grey Sheets doesn't mean the SEC or FINRA are done with them. On the contrary, the investigations can continue and FINRA and SEC are under no obligation to disclose that. The sponsor therefore can't really appraise the extent of the risk and would rather pass.
With these constraints, wouldn't AV Eq go bankrupt? How could they get any capital to proceed? Who would finance a Grey Sheet company?
With these issues in mind, the question remains, What is the disposition of the deal and the IP?