It is so obvious they are bankrupt and they are just procrastinating to announce it because dealing with bankruptcy isn't fun. You can't hide forever Lesley. Don't make it worse by violating accounting rules and filing deadlines.
Then you should buy as much as you can before Crailar goes bankrupt because they won't be making any more of it pretty soon. The Canadian government owns all of the IPR for Crailar so they will just license it to someone else. Shareholders lose everything. Kenny Boy walked because he knew Crailar was finished. He's already on to his next sham.
Kenny Boy knew he couldn't raise any more cash to keep this POS running so he quit. He lost all credibility with investors and potential investors and so has Crailar. Sadly Crailar will go bankrupt. It was a good idea with extremely poor execution. Current management is scrambling to figure out how to do a money grab on their way out.