To be fair Arggie - Bauer bears the ultimate responsibility for what happens to the company, and the stock.
Personally, I don't believe the old T/A was responsible for the share problems. I think they were used as a fall guy, because I see no notice of judgements being filed against them.
I do feel the "snake factor" is in play here -- it's obvious there is much the company is refusing to tell us. I can only assume it's because they're printing shares and/or settling privately with the shorts.
They've also flagrantly violated the terms of the merger 8-K, which stated the restricted stock would be free-trading as of May 2007. Since there were no SEC or NASD actions, I can only assume the decision to hold us out of the picture is entirely PAVC's.