Sounds interesting! Just one remark: There is no need to issue/use all of the 3.5 billion shares IMO
2 billion, 1.5 or 1 billion COULD be sufficient. It only depends on the value of the assets they receive from the WMILT in turn for those shares. The total resulting PPS (which could be calculated by them in advance) needs only to be higher than the all-time high of $3.74 IMO, so nobody (not even the ones who bought at $3.74 could complain/sue because then nobody (except the shorties ) would suffer a loss). They could calculate the number of new shares needed and allot them to the WMILT which will distribute them to the escrow holders (directly or via WaMu 1031 Exchange, I don't know).
Please have a look at my three posts in the following order, they address the same theory:
But of course this all makes only sense if it really comes to a stock-for-value-swap
--------------------------------------------------------- - Just my personal opinion, no investment advice! - ---------------------------------------------------------