If they flat out said "Shares are cancelled" and a deal was made in secret This would be at 0.0001. Everyone would sell thinking they lost their investment but "Insiders" (using it loosely) would buy and make a profit and you were lied out of your investment, which is illegal. They can make it sound like there will be no value in shares, they can acquire more for cheaper with people panic selling and make a profit from what you perceived as bad news. They have already said it's a 2 step transaction. They can't legally say "It's a merger" before they're ready or the price would skyrocket. It's literally still a anyone's game right now. A lot of DD supporting there is more to come.