Chapter 11 is a long and expensive process, about 25% of companies survive it, and it means that the company needs time to re-organize, the end game is for the court to approve it's new business plan. Since UNXL has no debt, they have up to 300 days to submit this new plan, quite some time. There may be a new Chapter 11 trustee. This is NOT Chapter 7, which is a short process of throwing in the towel and basically saying you cannot meet your obligations. I recommend you read about chapter 11 in the forbes link below.

https://www.forbes.com/2008/09/25/chapter-11-bankruptcy-ent-law-cx_rb_0925bovarnickchap11.html  

1. They have no debt.

2. They have design wins.

3. A few bumps on the road during their "ramp-up" stage.

4. They were in talks with GIS and other potential partners.

5. Shorts were covering today (08/29) that is buying back borrowed shares at a very low price. It will be interesting to see what the stock does tomorrow.

6. There is a potential for a buy out 

7. Several analysts have downgraded to hold or sell. I am holding for now, possibly adding depending on more news.