Jay, being a Merger & Acquisiton lawyer knows very well about the naked short position that would have to be covered in a reverse merger so this was probably the plan all along.
Wright's experience also includes serving as an investment banker with Merrill Lynch and as a mergers and acquisitions attorney with Skadden, Arps, Slate, Meagher and Flom, LLP in New York and Foley & Lardner in Chicago.