I believe they acquired the assets, but we don't know what they paid aside from some restricted shares - but again the shares are at most worth $4.7M so where does the rest of the money come from? Are there liabilities in the acquisition that are coming with it that balance it out?
FINRA can't vet a lack of information so they can't call them out on this. You still can't accurately valuate these shares until we know the details of the transaction - we only know the good stuff conveniently...
So true. When putting out an announcement such as this, FINRA will require all receipts, contracts and backup documents. Ever since 11/2015 when the rules changed in the OTC, the days of a dishonest company are over. Finra requires proof.