There should be more positive movement...if you want to use the NOL's you need to buy some profitable companies...see HNH; bought out WHX Corp with lots of NOL's and acquired several companies to create tax-free profits. Now you buy a 30 million company at a 4 or 5 EBITDA and put it in this tax-free shell...Bingo 20+ dollar a share...see HNH.
My guess is they needed to get the ship upright before getting a new business. We are floating on our own now...time for step two!
I have believed all along that there would be a acquisition; they have lots of cash and need profitable companies to use the NOL. The upgrade just seems to telegraph that something is near...about the right amount of time for HNH to complete a deal.
I believe the reason for the lack of a CC...did not want to be asked about potential additions.