No, sorry, it isn't the smart thing to do. 2/3's of the A/S are issued to other people. 2/3's of the "value" of the "merged" company are in the hands of the shareholders of the shell pre-merger. Sure, they can raise the A/S or do a R/S and make gobs more shares, but that wouldn't be popular, either.
What was the latest big IPO done by a reasonably big company? Why didn't they just find a shell to merge into?
But I’m more concerned with the “scam” claims. Do you have any DD to confirm that? Thanks
Read the employee comments at LinkedIn. You posted the link. Several employees are extremely unhappy, and do say or suggest the company is a scam. I have no idea whether they're correct or not, as only one furnishes much in the way of detail.
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