The SEC legitimately revoked the US Common stock because the company did not file timely financials. Revoked means cancelled, although apparently that definition is up for debate. Regardless, shares may be fungible (have value) in Canada if Crystallex assists US common shareholders with brokers, which may (or may not) be the plan. No one really knows because of lack of disclosure. The court and SEC noted nothing about US Commons becoming, "unregistered," shares, and the SEC has oversight of all stock in the US - public, as well as private. Interesting.

Why the company, "forgot," to file their financials with the SEC is curious, especially since their financials were already completed and filed in Canada. Yesterday, the company "settled" with the SEC, about five weeks before deadline. This is also curious. may provide ample time for the Canadian regulatory side to make some decision before the Stay runs out. Interesting.

As far as packing it in - and you already know this - Crystallex is in CCAA: Canada's version of the US', "pick a Chapter, any Chapter," to avoid bankruptcy or go out of business. CCAA's goal is for a Plan of Compromise and/or Arrangement. Meaning, "Compromise," with creditors to maybe pay less back (something is better than nothing) to stay in business, and/or make, "Arrangement," to reorganize the company in a manner (give some ownership control to creditors) that satisfies creditors. It may not seem that management is directly profiting. But, maybe they are shifting things around. Who knows, like take from Commons and give to Tenor/Bondies, as has been done in the past for funding. Then management retains their salary and piece o' arbitration pie.

How does it happen? Once a company starts down that slippery slope of being delisted, suspended, etc., it is tough to turn it around, even for the best company execs. Also, unfortunately, Fung was associated with Silver Dragon Resources, where the same thing happened (although not revoked, but DTC chilled), which may be why the SEC got interested in Crystallex. The SEC has been especially working hard to clean up the pink/grey/otc, and trying to weed out bad apples. Regardless, the warnings and red flags have been there for quite a while.

You are not ignorant. Questioning what is going on is far from ignorant.