If it is a reverse merger, the new majority owner would be a shareholder of the private company that is taking over this shell. <br /> <br /> Once they have ownership, they would have control of policy and fundraising tactics, within SEC regs of course. <br /> <br /> If there were too many spzi shareholders with diamond hands, not selling, then the company might want to do financing to their friends, but that would risk their control. I don't think they can issue financing to themselves after taking over without getting in trouble with the SEC. They could compensate themselves in shares, to dilute a bit, but I think there are probably limits on how much a company can do that. Not sure though. <br /> <br /> As we saw with the previous management, the little guys will get screwed. <br /> <br /> If this a RM situation, a lot will depend on how deep the pockets of the buyer are, their revenues and corresponding IPO costs that they are trying to avoid, and their timeline for going public. <br /> <br /> I'm planning to hold until I can clear my original investment by selling 50% of my 2.3M shares. Then ride the rest to whatever crazy destination is in store here.