If you want to understand how a reverse merger works with a shell. You can glean some information from the transaction from TSNP:
On November 13, Tesoro Enterprises Corporate Secretary Jeffrey Hinshaw, announced today that the company was retiring 551,669,335 million common shares that Tesoro President Brian Foote agreed to surrender without consideration. Those shares were acquired by Foote from the previous Tesoro President for value received from Foote. With the retirement of those shares, the number of Tesoro common shares issued and outstanding was reduced to 3,996,709,773.
A few days later, Tesoro Enterprises announced that Foote agreed to convert over 318 million shares recently purchased by him out of the retail market to a new class of Preferred shares. And the conversion will be transacted following the imminent completion of the merger between Tesoro and HUMBL LLC — which will coincide with the redomiciling of the corporation to Delaware.
Following the completion of the conversion, Tesoro’s issued and outstanding number of common shares will have been reduced by over 860 million shares since Foote became President of Tesoro. And the company does not anticipate that the number of common shares outstanding will increase during the remainder of 2020 and throughout 2021.
So if one wants to take this shell, they have to clean it up first and may purchase the shares out of the retail market to begin settling any outstanding debts due to previous management. Once they get the the controlling block they can also opt to convert the remaining debt into shares under the "new" company which would dilute the shareholders further. HUMBL was smart to reduce the shares instead and bought them on the cheap.
My speculation is if someone was to clean this up it could explain why there has been over 2 billion shares traded with no news.
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