1812 Brewing Company Inc (KEGS)

[Dragonman1]

The CMKM Diamonds cellar boxing lawsuit
The victim company's objective is to avoid the three primary goals of the naked short-sellers: bankruptcy, a reverse split, or being compelled to issue death-spiral convertible debt out of desperation. As long as the target company continues to pay the monthly burn rate, the company can undertake strategic steps, including a name change, CUSIP number change, dividend distributions, and cancel/reissue procedures, among others.

It's alleged that between Jun. 2004 and Oct. 2005, more than 2.25 trillion fake CMKM Diamonds shares were sold to the public through legitimate brokers, dealers, and market makers. The company’s shareholders are now suing the SEC for $3.87 trillion in damages. Hopefully, authorities will see the reality of naked short-selling and cellar boxing and take immediate actions to avoid this kind of fraud, which has devastated thousands of microcap businesses and their tens of millions of investors!
Source: https://marketrealist.com/p/what-is-cellar-boxing-in-stocks/