This is most unwelcome news.  The only positive I can see is in the following:

"Also as previously disclosed, management has been holding discussions in parallel with several other potential LLC investors. As of the date hereof, we are awaiting the conclusion of the estate settlement mentioned above and we are in final discussions with two European investment funds." (bolding mine)

I have no comment beyond the above ... and will probably go back into my cave. PO'd doesn't begin to describe my reaction.