@grandslam... I gave these people the benefit of the doubt for a long time, but I am becoming increasingly suspicious that this has gone off the rails. I don't know that for a fact, but there is certainly no further room for trust here. It's all "verify" going forward.
Let's review... They allow their ticker to be revoked, and within months acquire two businesses, installing the owners of said businesses as the key corporate officers after giving them cash and/or stock. Those officers then go silent, except for one rather strained and defensive E-Mail exchange. Meanwhile, the company starts floating the idea that it is somehow magically private, without having bothered to repurchase public shares, and subsequently announces (and then apparently revokes) plans to somehow do an IPO, without any reference at all to legacy shares. Then, after initially promising (on at least three occasions) that it will file a Form 10 when the (supposed) auditing is complete, they reverse course and won't promise anything. Basically, "Suck it, loser."
Something clearly doesn't smell right here. If they want to be a private company, they need to repurchase all of the formerly public shares. In the meantime, they owe those shareholders the information that they would receive if their listing had not been revoked. If they refuse, and if I don't hear anything from an authority that suggests a different course is indicated, they're getting sued, period. It's that simple.
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