Not likely, but something has to happen pretty soon. The board has been living off of stockholder equity for years now. Their only income was the sale of more stock. They got all prep'ed up to do it again. Filed to sell 50M more shares. Hired BTIG. Put on the dog and pony show again. And then didn't do it. That sounds like somebody with a big stake, who is not on the board, told the chairman to sell it or take a hike. In any case no more dilutions. The chances of BK are slim to none.
The chances of a very boardroom friendly/stockholder hostile sale is more likely. Not good.