"With a reverse merger, a private company is merging with an existing, smaller company that’s already listed on an exchange. In some cases, the public company is a shell company owned by the investors in the private firm. So for example, the owners of ABC Corp., a private company, will form a public shell company called “Awesome Corp.” (It’s important to know that Awesome Corp. really only exists on paper.) In a reverse merger, ABC Corp. will “merge” with Awesome Corp. to form a new public company."
So being that PSWS is a small, shell company that is listed on an exchange I think you may be on to something.
