Yep, if that research report is accurate, it records and archives another investment game played according to the SCAM textbook. Rather standard fare, as I read it.
From the organization to the finding/buying a shell, to issuing both equity and debt instruments, to dilution pollution, through deception and misleads promulgated under Safe Harbor laws, to a major REVERSE split, and all the integumentary elements attending, IDOI is your paradigm of scoundrels skinning suckers. All IMHO.