There's oh so much they would have to do...and have ZERO intention of doing it.
They would have to show where every single share is owned. Who owns them. How many there are. All the sharecounts in the filings would be proven false. All the convertibles would have to be completely unraveled...revealing the true, awful structure.
They would have to prove the original "contracts" ever existed...and explain why NOTHING was ever paid.
They would have to explain why the convertibles were used as they were, why the conversion rates were what they were.
They would have to explain why they were unable to use any of the iEquity $3 million credit line, or the $150 million of credit iEquity supposedly had to pay their bills instead of doing it via these incredibly handy convertibles.
They would end up admitting that they put out those press releases to sell shares.
They would end up burying themselves.
And they're not going to risk that.
There will be no merger. No audited financials. No 100 million shares of AEGY going to anyone.
Nothing but touts and convertibles.
Sorry about that.
IMO/FWIW