I would guess that Mr. Foley will get this re-listed. His small problem may be that he's out of money. His bigger problem may be that when he sold private placements, his commitment likely was to maintain a public company. He clearly has not done so.

The interesting question for the legals would be to what degree Foley breached covenants and therefore committed fraud. If that was the case, Foley would likely be barred from anything to do with public companies in Canada or the US for a long time. My hope is that Foley will get everything back together for those who bought his pp story, and for those who bought on the market.

Perhaps what he needs to do to get this going is to get an executive team who can do what he hasn't been able to do. But I think his ego may be too big for that.