If an acquisition or merger cannot be achieved, a fall back...

If an acquisition or merger cannot be achieved, a fall back position would be a Deed of Company Arrangement where Realtek (if agreed) would accept a large proportion of holders shares in order to absolve the debt, while their present holding is conserved.That would be at least more than 31M shares ($3M at 8c current sp) or a multiple of that if required. It is hard to believe they've so far spent $6M on development of Gen 4 yet it is incomplete. They would then need to present a convincing plan for completion, sale and distribution of Gen 4 sufficient to inspire a substantial CR. The company would survive and management hold their positions despite handing over the agreed proportion of any shares held. Compensation in anticipation of any such loss appears to have already occurred.