This could well put the company into play (wouldn't surprise if...

This could well put the company into play (wouldn't surprise if it will be shopped around over the next month) but they're on the ropes now & any offers won't reflect underlying value for individual assets or the company as a whole. It may well be a 'take it or leave it' scenario (if it transpires that is). I'd have rather they took this step earlier and limited the cash burn to leave the company on a more solid financial foot that gave them more optionality at a future table of possibilities. The only saving grace is that they're still there & in control of their assets for now at least