They could. But they cannot strip the assets and leave the liabilities on the existing shareholders. So they would have to acquire this entity as a sub, or reverse merge. But you would get restricted stock for 1 year. It could be a bit less costly (maybe) and an easier avenue getting past the SEC review process, which could end up not fruitful.
I really do not know what this company's audit will entail, because they have been dark for the last three years. If it is easy to reconcile it could be $50,000. If it is complex, it could be $150,000. And time, well it could take 3 weeks or 3 months. hard to quantify it at this point. Only the company knows.
