1. How would Megas NOT allow someone to short his stock if they could find the borrows? Better yet, assuming there were someone somehow naked shorting it, how would he stop that?
2. Megas has identified about 1.5 billion shares out there in total, so he's going to issue enough shares to cover all of them.
3. Your broker shows shares in your account, whether there or not in fact, once he issues the new shares they will be in your account in fact.
4. Megas does 1:200 r/s, you then have 1/200 of what you had.
5. With luck the stock starts trading again and the market takes care of itself.
End of story.
ps: what possible agenda, other than those hoping to be able to sell their stock and make some money, or at least get as much possible back...could there be? Stock ain't traded for a long, long time.