It looks a bit like this

Josh was in Europe to finalize purchase of coinswap ( where it is based) and today the site said officially it has been sold to GAW  They will now need to handle the turnover which is simpler if everyone has to remove their coins by March 22 or they will have an expensive audit/accounting nightmare and then probably set up the relaunch under a new banner.

The new exchange using coinswap tech/code ,which I fhave found very user freindly, will most likely be in Europe where it can open very quickly and cheaply ,compared to USA ,due to the regulatory environment being friendlier and the fact that no legislation has been passed YET  ( par for the course in euroland !)