Ann: Magnesium Lithium Alloy Agreement, page-15

You can probably judge the future by it's past... the long history of anns and the events that occurred subsequently.
Don't forget that 'income' from the trading desk back in.... 2014? was it?

I have seen companies that keep going until nobody will given them any money even at a discount. Some then go on to consolidate and rebirth at one tenth of the last traded price just to get another year or two.

I don't know what is going to happen here, but given accomplishments to date, it must be getting hard to find money even at a substantial discount. The market cap alone indicates this. I would take a close look at the balance sheet and the capital requirements just to keep paying the entitlements of those on the payroll, never mind service any debt/liabilities. As for asset values... they can mostly vanish, but the liabilities rarely do.