Is this another farce by possibly an illegimate Board, page-11

Its a shame that ALK wasn't able to provide some cash to keep things going with the similarity on the boards/major shareholders and the number of other investments that have been made recently.

I'm really in two minds about this one. Management (or relatives of) and major shareholders have been backing this with their own $$ and it should be easily cashflow positive as everyone has seen from the numbers. In theory it makes sense to just be suspended for another 6 months and pay off the debt organically without the excessive dilution but it would also make sense for the insiders to dilute to themselves at bargain basement prices to get a bigger slice of the pie.