read...think this is the key here:
<<In connection with the merger, a market maker has filed an application to have our common stock quoted on the OTC Bulletin Board, which is pending as of April 22, 2008. The shares of Etelos, Incorporated have been privately held and never traded publicly. We cannot give any assurances as to when, if ever, our common stock will be quoted on the OTC Bulletin Board.>>
These aren't Etelos shares....I'm not 100% convinced, but certainly seems right - you aren't just going to get new shares handed to you, that's not how reorgs work....a little different here with a RM involved, but I wouldn't count on it.