Since we can't get a clue from Falk about what's going on, I have to try to figure out what happened:

We were doing pretty well, with money in the bank from several key settlements, new patents, a promising agreement to apply our tech to water management. Management decided to up our game to a new level by bringing on a new and expensive legal team, connected to some new Board members. But settlements when they came were smaller than expected, and the lawyers were getting REALLY EXPENSIVE. Suddenly the cash was running low. The new Board members realized they had sucked us dry and convinced Falk to file the Chapter 7. (Bye, bye, Mary Fales) This after giving PN his patents back so they wouldn't be considered assets in the bankruptcy settlement. Hush hush, don't tell the shareholders anything. Don't file a 10K. It'll all be over in a month.

Very clever. Looks like it worked.