Great synopsis. The only part you left out was that while your shares are at the transfer agent. The PPS plumments, so that even if you want out, you can't get out until the PPS is in the toilet.
Reverse Split of Restricted Shares TDAmeritrade on 01/02/08 reduced my restricted Solos shares to 1/10 of the original number. Before you even have a chance to trade the shares they take 90% away, now that's a scam.