I am wondering, why for almost 2 years the SEC didn't release it earlier and they only release it yesterday "October 11, 2019".
(The complaint alleges that defendants failed to register their offers and sales of Grams, which are securities, in violation of the registration provisions of the Securities Act of 1933.). If they can solve this issue , I am pretty sure they can continue the project smoothly.
Even if they do not settle this they can either go ahead and release GRM or return money to investors (apparently entire 1.7bil is stored in TON Foundation) and then make a proper ICO. I would bet that proper ICO would raise a high 8 digit number.