"will flock to this thing like seagulls to a bag of chips."
Seagulls are concidered the garbage men of the sea. They pick up the scraps that no one else wants. I am affraid you are right. When Dan 'comes to' and realizes he needs to put this company in Chapter 7 you will see the seagulls appearing. Some of the 'ownerships' aren't worth the paper they are written on, other might have some short term value. Shareholders will get nothing.