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found this hope it helps
Nautilus Minerals, one of the world’s first seafloor miners, officially went bankrupt this week, its court-appointed monitor, Price Waterhouse Cooper reported
Nautilus filed for protection from its debts in a Canadian Court in February 2019. The company tried to restructure but it failed to find any buyers for its assets. In August 2019, court approval was obtained for creditors to liquidate the company to get back a fraction of what they were owed. 
The Vancouver-based company was trying to develop its Solwara 1 deep sea gold, copper and silver project, off the coast of Papua New Guinea (PNG), but the project was plagued with community opposition and financial setbacks. 
In June, the owner of the shipyard where the company’s support vessel was being made said it had cancelled the contract with the supplier chosen  to build its ships after Nautilus failed to pay the third installment of the contract price — $18 million before interest. 
Local communities opposed to Nautilus’ Solwara 1 project in their seas are still opposed to the project, and there are still legal cases in the PNG court system. 
In the process, Nautilus has left the Papua New Guinea government, which still owns a 15% stake in the Solwara I project as well as equipment, facing K81.5 million ($24 million) in debt.
“The two main shareholders – MB Holding and Metalloinvest – have effectively taken control of this ‘new’ Nautilus at the expense of major creditors and hundreds of small shareholders,” Andy Whitmore, advocacy officer, Deep Sea Mining Campaign, said in a press release. 
Court papers noted that Nautilus had two distinct business units, one dealing with polymetallic nodules, and one dealing with seafloor massive sulphides, which includes the Solwara 1 project in PNG. It is therefore unclear which, if either of the business units, the new company will concentrate on. 
“Nautilus gave the impression that the new company was ready to roll. But it has been over a month since the confirmation and there’s been no other information on what Nautilus’ new plans will be,” Whitmore said. 
Nautilus stated in court papers that once liquidation occurs, there may still be a buyer for at least some of the new company’s assets. 
PNG Business News report suggests the new Nautilus has applied to the PNG Mineral Resources Authority to vary the existing mining lease. 
When Nautilus was removed from the Toronto Stock Exchange as part of the bankruptcy proceedings, it moved to unregulated trading, with a recent spike in buying. 
At market close Tuesday, Nautilus Minerals’ shares had been traded 310,769 times on the OTC, with the stock priced at a penny. 

so they lied to shareholders regarding ship court case right in those words please someone correct me or put me on right path

PNG paid $128 million for IP and 15% of the project. Don't know where they are getting the $24 million number from...

I don't want to get anyone's hopes up but I have a very strong feeling that we are going to see & hear some interesting news, developments & activity after the 1st of the year. I do appreciate those that have expressed a belief in my theory. I think the time is coming closer to proving or disproving my conjectures. Did anyone happen to watch the 60 Minutes special on underwater mining? I recorded it last month and finally watched it recently. I found out that in just one tiny area that is only 1% of the pacific ocean (Clarion-Clipperton Zone), it is estimated that there is a minimum of $14 TRILLION dollars of rare metals in the nodules located there on the ocean floor. Hmm, there is company that already has the technology, the equipment, the ship, the licences, the knowledge and is basically a step away from exploring & cultivating this type of resource with almost unlimited earning potential, but for what would be "pocket" change in the couches of these billionaires, they just let the company fail. Sure that sounds plausible. Maybe they don't like making money. They're probably happier to sit back, loose all of their investment and watch other companies make millions, Billions and TRILLIONS!!! Or they can "sell" the assets that they received from the bankruptcy proceeding to the "mysterious" entity that now owns all the shares of Nautilus that have been getting bought up for the last year or so and "Presto". They make billions on their shares when the company relaunches and they make more billions & even trillions over decades from mining the ocean floor like they were ALWAYS going to anyway! Hang in there everyone, the time is near!

Man Treasure G I hope you're right. What a great story this would be for every long-term individual Nautilus investor who believed through thick and thin. We deserve it!

Fingers crossed. Happy New Years to everyone!

worth a read

Very informative and extensive article.  Thank you!

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