James Arabia is the owner of NAWL and he picked this up in 2008.
This shell has changed hands and the most recent was to Arabia. I did a google search for him and although there's some questions raised about how he conducts business, he's definitely a heavy hitter when it comes to public companies. He was involved in some big stuff in the late '90's and early 2000 and definitely has a network.
He obviously saw some value in it as a shell. There's no motive other than to flip it. Which is why this sorta makes sense. There could be other plans for it though.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.