Just bought the Jun 2012 15 put. Just in case they go bust pretty quickly. They only hold $3m in cash. Shorting has been prohibited for 1 day apparently
Company "announced that it will not meet the previously disclosed June 11, 2012 Nasdaq deadline to file its quarterly reports on Form 10-Q for the periods ended October 31, 2011, and January 31, 2012 as well as April 30, 2012. "