"who actually sold shares they did not have . . ."
presumably, the company could file an inquiry about those trades
"whether this company will have to re diverted into another shell cause of this screw up.."
imo, that would be an even bigger screw-up: cf SWNE/MCII, ABIO/JDMO/JDMC & MNPK/NWMO. The latter had no problem delivering their round-ups, both have held good pps, and one went on to a real exchange. Meanwhile MCII is perceived by many as whiney losers with a dog of a stock...
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