It's a pump and dump, just like all the others.
Each and every one speaks of "things to come" that never do while stock is sold at prices that make profit for the sellers, but are still at small fractions of "things to come." Same story, same action, same type of stock.
If there's a buyout coming, today's PPS is irrelevant, yet it is everything to a pump and dump. Affects the profit made from selling the stock.
The sellers understand the stock will be cancelled very well, it happens to every bankrupt, liquidated, out of business company.