It is difficult to understand that the mechanics of a private company gaining control of a public company is without some procedural steps having to be satisfied along the way
public shell------Worthington
private company---American Dynamic Resources, Inc.
Reverse merger to combine the two entities
to me, Worthington had to be a public shell for SEC in order for the transaction to be completed
The shell issues a substantial majority of its shares and the board of director control over to the shareholders of the private company....
The private company shareholders pay for the shell and contribute their shares to the shell company
The private company is now public
There has been massive volume in the past 4 days amounting to about 305M shares
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