they are not a SHELL , repeat not , but not supposed to be trading either , mm's or their "trader" friends don't want to cover a NSS position so they keep "flipping" trades !! all imo of course !!! GLTY !!!
I think the reason why he said that is due to the fact that the 10K filed before bankruptcy showed insiders' 100% ownership of the voting common stock, so he's right it shouldn't be trading since they're holding all the common shares and all these are shorted shares imho