NO..certainly not. The valuation is nonsense though...which is usually the case when involving stock. That's just an unfortunate outcome. They have been repacking distressed and non assets/investments to somehow gain value down the road. Nothing uncommon there either.
The repackage will be dumped into Diamond Lake and then dump shares. About as obvious as you can get. A lot of related parties shuffling around different dead packages into a fresh new one.
The newest start up was SocialTrader AI...back in march 2023. So the timeline is predicable :)