Kodak has no money. 30% of their current operational costs are being covered by debt (secured bonds). They have to sell their R&D to keep the lights on.
If Kodak could focus their business and push what they do really well instead of chasing a market in which they are a small and over classed player, they have a chance. Kodak was always good at innovation, they should invest money into R&D and then sell or partner those technologies with the major players in those areas.