The problem with that scenario is the gray market

The problem with that scenario is the gray market in and of itself. True, not much has changed, but the general perception of the gray market is that of a stock graveyard. Most trickle down to .0001 or stop trading, see KMAG, GTGP, etc.. With that being said, should HJOE file, as you said, they can operate in the grays. I know this is scoffed at by some bashers, but I've personally had the displeasure of being in two stocks who traded in the grays, both are finished now, but neither filed and neither ever had revenue. It remains to be seen if HJOE really has revenue, as they have yet to show us any revenue. If they produce revenue in the gray market there is certainly the opportunity for it to rise. We won't get the same type of move and certainly bigger investors will avoid it, but best case scenario IF it goes gray is long-term holders could make some back after any hard move south once HJOE files. That also, is a big if at this time.