It seems that the stock price in effect is the same as a ch. 11 deal. If I were Dominick and Dominick that is the only real advice to give the Board -file Ch. 11 - wipe out the entire past - get a new management team in place and try to license the "technology" if it is worth something. And that may be a long shot at best.
another way to look at it - market cap has slipped below $1MM. if moving forward was simply a matter of funding/capital as mgmt (and a certain poster) suggests - why would a capital investment firm loan $5MM to a company with a market cap of $1MM for a company with no, legitimate sales (legitimate as in third party verifiable/operational)? if you really want a piece of the company - why not just let it go bankrupt and then buy it out of bankruptcy? at that point- you get the whole company, no risk of default on your loan, and you buy it at a substantial discount?
there is ZERO reason to buy shares on the open market because it is impossible to take control of the company. LK made sure of that in the last round of voting shares which locks up virtually all of the voting shares with her (65-70% if I remember correctly and TL has another 20%). so even if an entity went into the open market with $1MM to buy up the entire float - they would still have no authority/ability to remove mgmt and move this forward.
therefore - there is no reason to provide capital or buy shares on the open market. current shareholders are finished.