There is still some hope that the manufacturer will be purchased in whole, which would potentially allow EBR to continue making motorcycles and competing in races as a team. According to EBR's official Facebook page: "The assets have to be broken into segments like this by law, but it is a going concern auction and a number of bidders are coming with the intention to buy all the lots necessary to move the company forward again. The outcome is of course unknown, but it actually looks very good to us."
On the other hand, it seems completely possible that smaller individual bids are placed for parts and pieces of the bankrupt motorcycle manufacturer, and if those are approved by the judge, Erik Buell Racing as we know it would potentially cease to exist forever. We'll find out what fate faces EBR in less than a month.