"It is what it is... ." Probably the best frame of mind for dealing with this disaster.

You Don't Believe failure to file timely financials was a mistake?
Me either. Ok, even if others didn't, you asked for it. Buckle up...
Speculation on why they did it (didn't file timely fins):
Management/TenorKRY's destroy-all-commons (DAC) process:
1. US Commons revoked by the SEC
2. CSA follows suit, revokes Canadian Commons
3. Omit revoked commons in CCAA Plan of Arrangement/Compromise
Crystallex received their SEC enforcement action (this was not voluntary de-registration), most notably some weeks before the end of the current Stay. Interesting. Completely freeing up those arbitration proceeds as a carrot given to Bondies just might make for a nice Arrangement/Compromise package to bring to CCAA court. Who knows.

Don't believe the speculative DAC process will happen? Ok.
Should the DAC process not complete, then take-aways and dilution (aka DAC 2.0) will continue. Why? Because they can - undisclosed. Crystallex still needs to settle with Bondies. Also, Crystallex needs funding to make it to, and through, arbitration. And, the absolutely ONLY allowed lender (see ninth monitor report) is Tenor KRY Cooperatief U.A. (TKC). Everyone knows TKC took a third of the arbitration proceeds for their DIP loan. TKC now says Crystallex has been a bad boy, with Events of Default, in their spending. Think there is any chance future loan(s) will have no arbitration proceeds taken by TKC? DAC 2.0 will happen. Definitely an unknown future reward for revoked commons.

It is what it is.