Hungry,
Yes, if CRQE goes from insolvent to solvent, and the merger with Cirque Energy II LLC is completed, they will reap the 43+ million shares. Those shares will be part of the CRQE that you and I own here, so we would benefit also.
But, if you were these owners, and you had another company with all the assets and value, that you own 100% of, would you merge just to share the windfall with the CRQE shareholders, and get your 43 Million shares?
Or in contrast, would you not merge, keep your private company with all the value (Cirque Energy II LLC), and have the whole value, not just a portion.
There is nothing that says they have to merge. Right now this contractual merging others are talking about only benefits the private company, that we do not have a piece of.
To keep funding that private company, or even issue their 43 million shares, CRQE would need to either increase the authorized shares or perform a reverse split, both of which they cannot afford right now, as they are insolvent.
Look at the last filing -- their CEO and CFO both signed that document, no matter who paid to have it completed. Through Sarbanes-Oxley, they are criminally liable for any mis-statement in that filing. So, do you think they just filed and signed that for fun, but hey, really everything is alright? Their statement has made others make investing decisions, and if it is knowingly wrong, they will be criminally liable.
