[gumby]

At this stage almost any sum would get you the assets and keep the operational part of the company going, and you could pretty much name your terms: valuation, op plan, everything. If you were already an investor you might know about something useful in the IP, perhaps something that mgmt doesn't care about.

Note I said assets. Technically the company doesn't appear to be insolvent in which case instead of an ABC you could basically strip what you want away from the obligations.

And those laid-off people? They got 60-day notice; certainly some of them have already jumped but probably not most of them and in such a restructuring you might be able to retain the ones you want (which could be all of them).