The way I read it, it appears the 500k is like a payment plan if...

The way I read it, it appears the 500k is like a payment plan if you like, so as to defer the bankruptcy proceedings until May. This may (or may not) be sufficient time to negotiate a final settlement amount from Hong. The wording is ambiguous however, perhaps intentionally, so as not to allude to the market that a settlement negotiation is in progress. This avoids the need for a trading halt, and it can be stated that no trading of the shares based on the assumption of a deal being made took place.