I agree with this for the most part, but from my research I believe Nelson is actually just one player in the M&A stuff SLTD and the other Santa Barbara companies are doing. From what I have been able to figure out (I got like a 50+ page document about this), I believe Nelson does these types of deals with a small group of people in Santa Barbara. Specifically some people named Greg Boden, Jonathan Lei (using his relative Elaine Lei as a false front), and Jim Bartlett. These names might sound familiar because aside from Nelson they are three of the four founding shareholders of SLTD (The fourth, Beifuss, seems to be out of the game now).
CLWD, whose CFO is Greg Boden (who owns the p-note I always complain about) has been doing some really shady deals recently. They are somewhat similar to the SUNW deal but much more toxic to the acquired companies. They seem to be duping unsophisticated small business owners into selling their business for worthless penny stock shares. You can actually call the phone number for CloudCommerce and it says "press 3 to be acquired".
Based on an anonymous tip I got from someone at the company, it looks like one of them is blowing up with the acquired company feeling completely ripped off. The other one is underwater but no overt sign of discontent. The second company is interesting because it's owned by Brad Parscale who ran Donald Trump's digital marketing campaign.
The key action that both Abe or shareholders could sue the company for, in my opinion of course, is the change in the promissory note (owned by Greg Boden) which altered it's value by millions of dollars in Greg Boden's favor. Long story short (I showed all the paperwork for this a while ago), this that the note was changed from a $1.50~ conversion price to $0.338 conversion price. Making it over four times as valuable at the expense of shareholders.
Jim Nelson and Greg Boden are close (they share the same office on their respective company filings, Invest West LLC for Nelson and CLWD for Boden), and according to their social media profiles seem to be close personal friends as well. Given this, it's suspicious that Nelson would have the note changed to be much more valuable for Boden without providing a compelling reason.
The people who would oversee this decision are Franklin Hunt as chairman of the audit committee. Hunt happens to be related to Jim Nelson, which could impact his impartiality. The auditors could also check that out. The auditors at the time were HJ and associates, of which Franklin Hunt was a partner with. HJ has also been recently decertified for negligent audits of fraudulent companies.
The auditors were then switched to our current auditors, which also happen to have Greg Boden (CFO of CLWD) as a client. Greg Boden's relationship with those auditors goes back further than Nelson. It's a tiny shop in Boca Raton, FL of which SUNW is their only client listed on a major exchange.
I was actually able to talk to Greg Boden about this (by cold calling his cell phone). He told me he didn't remember anything about the note and to ask him about it in writing. So I sent him the questions, it's been over a month now with no response and all attempts to follow up have been ignored.
Long story short: The people that really pull the strings (and where the $$$ looted from shareholders really went) are the original founders of SLTD. One of them was a convicted felon on probation using his relative as a front (in my opinion to conceal his relationship to the new company). A very nice house on the north side of Lake Tahoe was built shortly after one of them liquidated, so the money isn't all gone. Since the money is outside the company already, shareholders would potentially be able to obtain more cash from these people (they looted more cash than the company currently has in the bank), and would be able to do so without devastating the current company, that is perhaps an interesting place to look if impropriety in the dealmaking could be proven.
All of this is of course, just my opinion.
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