Seems about right. Just more of the shell games, pun intended, going on.
All of this M&A hocus-pocus is just moving money between same people in various 'companies' to obfuscate the true source and destination of funding. Would be a full time job to just trace the connections. Seems a lot like the way that advanced criminal organizations are operated.
P.S. I see that all of this news is being met with no increase in share price. Could it be that the game has been exposed?