I am not disagreeing with you, sure there is debt. Economically this is a bad investment unless there was money attached to it. There is, 25mil. Is it enought to pay off the debt and still move forward we do not know.
I know about as much as you aside from talking to the lawyer, everything is speculation from here on my part until there are filing which so far are none.
With the information given on o/s and debt, but with the attached 25 mil where can this go.
You are right there are better reporting shells for new startups, great shells but do they money attached, Maybe? it is not for me to say.
We are in the dark and we are just speculating what is left who has what, what could their intentions be, this is a board where we can talk about that, right?
Just my opinion here that is all it is.