>but the upside is there if they pull it off.

Pull what off? The company is bankrupt, the equity will be wiped out, they literally say that in the filing:

"Although we cannot predict how our common stock will be treated under a plan, we expect that common stock holders would not receive a recovery through any plan unless the holders of more senior claims and interests, such as secured and unsecured indebtedness (which is currently trading at a significant discount), are paid in full, which would require a significant and rapid and currently unanticipated improvement in business conditions"

No one is "putting their nose to the grindstone" to save the company. The money is going to the creditors.