Just posted a “Reverse Triangular Merger” and his theory on how that works for BBBYQ
Reverse triangular mergers are quite common. They're used, for example, when a private company merges with a public shell. In order to do that, a "merger subsidiary" is set up to facilitate the transactions. So my guess would be that Sterling believes "Butterfly" is the merger sub. But that doesn't work, because "Butterfly" is not new, and because all its stock has been deregistered and cancelled.
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