Its just so desperate and insane. He's trying to argue that while it was only an asset purchase, it becomes an equity purchase because of a capitalized definition put in a third party document. I bet they have this definition in a hundred documents, as all companies do. Doesn't mean when someone buys assets they somehow get or are required to get equity.
I mean how many times does it need to be said that NO ONE WANTED THE EQUITY!!!!!!!!!!