The problem is you'd have to attract a new group of bagholders and the latest pumping material from the company is just so obviously fake its ridiculous. Nobody believes a water company with a conveniently similar name to a successful one that hardly even existed until months ago is going to score millions in investment capital from a real bank and eventually get listed on a "major exchange." Nobody.
When they all fail to attract new bagholders (and they are), they'll have no choice but to position the shell for the next adventure a couple years down the road, and that will be a RS to free up shares for conversions wiping out even those bags.