It is very usual a NDA until the acquiring company takes over and change the board and publish it in the Otc page and the state Jpex is based on. Thats the beginning of the third stage.
In case of JPEX everything is more simple. It has no tangible assets, no business operations etc Only the shell plus the carry forward taxes we talked about. Also I presume no debt.
I continually learn about this, I just got involved into one where the acquired company is not a shell has around 20 M in lots in Bouse Idaho a hot area for Real Estate,and I did not have Idea it was being merged but there are several facts that resemble a merge and the general public I guess is not aware of it. It is almost in the 52 w. lowest level and traders selling out because news is not released yet and have no patient. hopefully news will come before Christmas.