The bigger is that the old owner of the shell was still lingering around during the custodian process. So very likely the new company will be forced to pay for the $1.7m debt. That burden would eventually be shifted onto shareholders.
You can check that on the https://www.clarkcountycourts.us/Portal with case number A-18-768870-C
06/28/2018 Motion to Set Aside
Judicial Officer
Israel, Ronald J.
Hearing Time
9:00 AM
Result
Denied
Comment
Motion to Set Aside Custodianship and Reinstate Officer
SANUWAVE Announces Record Quarterly Revenues: Q3 FY2024 Financial Results • SNWV • Nov 8, 2024 7:07 AM
DBG Pays Off $1.3 Million in Convertible Notes, which Retires All of the Company's Convertible Notes • DBGI • Nov 7, 2024 2:16 PM
SMX and FinGo Enter Into Collaboration Mandate to Develop a Joint 'Physical to Digital' Platform Service • SMX • Nov 7, 2024 8:48 AM
Rainmaker Worldwide Inc. (OTC: RAKR) Announces Successful Implementation of 1.6 Million Liter Per Day Wastewater Treatment Project in Iraq • RAKR • Nov 7, 2024 8:30 AM
SBC Medical Group Holdings and MEDIROM Healthcare Technologies Announce Business Alliance • SBC • Nov 7, 2024 7:00 AM
VAYK Confirms Insider Buying at Open Market • VAYK • Nov 5, 2024 10:40 AM