plausible scenario:
1) purchase the large block of warrants he doesn't hold.
2) exercise his block of warrants.
he holds 77%
3) cancel the warrants he purchased.
4) force a 1/1000 reverse split with payout for less than
100 shares.
he holds 77% plus, caused by the buyout of partial lots.
5) if the number of share holders is small enough, file to
deregister.
6) he gets nearly 100% of the 130 mil.
"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
(Alexis De Tocqueville)