Any time an investigation is halted for any reason can't be good regardless of any explanations given. It usually means the investigators were doing their job and refused to "gloss things over" and someone higher up didn't like it. The explanation that it was too big or too expensive is BS.
I don't think that is going to go over well with Nasdaq.
I think it will be anybody's guess as to what will happen next. I am not as optimistic as I was a week ago.
When I read the 8K I thought it was all bad as I agree when an investigation is halted and the members of the board part of a special committee disolve the committee because the Board/Management think that they are extending the scope beyond what it had been defined, this is not good but on the positive side it seems that they had covered the original scope, meaning reviewing the bank statements and the amount of cash on hand, the member of the board who were part of the special committee have resigned from the committee which was disolved but remained members of the Board, so they were not upset to the point of resigning from the Board.
My feeling is that the Bank Statement investigation is over and they should have now the answers and the possibility to file an audited 10K as long as their auditors can verify the financials... Still not sure what the committee was starting looking at that was considered beyond their scope and this still makes me nervous but again they remained at the Board so must not be so serious. If they would now announce their resignation of the Board, this would be very serious and negative for CELM's future.