Assuming there's a workable revenue model and in light of the latest recapitalization of the stock the next step would be to shop this model for financing. If their ducks are lined up appropriately then management should not need a "shareholder group" as there is an accredited investor on board.
Lots of assumptions but this is typically how the process works. If they have the goods one investor can fund this venture through equity rather than debt. They just need to catch the eye of a savvy banker to help sell the deal.
Truth be told this should already done and ready for kickoff imo. We shall see ;)
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