Coin Citadel (CCTL)

[I-Glow]

No a hijacked shell means that a person or a company finds a revoked shell usually in Nevada and files a Motion with the Court to be appointed Custodian of the shell.

It is used by scammers to gain control of public company. Which then can be used in a reverse merger.

They look for companies that are delinquent filers - and their corporate status is either in default or revoked.

Then they file a state custodianship action where they falsely state among other things, that a custodian or receiver selected by the hijackers will take actions to benefit the then existing shareholders. This is done via court pleadings.

The cost of filing is around $250 - once they are named the Custodian they will appoint a Chairman of the Board - who will name the officers.

Schaefer names himself Chairman of the Board - and appoints himself the CEO etc.

IG