99% of the outstanding shares are considered 'litigation shares' and thus exempt from the 1.50 purchase.
The non litigation shares are the ones the insiders owned and have not sold, so they are essentially just paying themselves.
That'd be also why the share price was sub .10. PAMCO just dumped the shares onto the open market, probably knowing that the company was going to do this. So all of you just bought a bunch of junk shares.
out of the hundreds of chicoms out there. I can only name 3 or 4 that are not scams.