Former management issued all those the shares before Paul took over. Former management put together a merger that included a reverse split. Former management took your money. Not Paul....Not Paul....Not Paul.....You know what you are doing is a lot like this story.
Your next door neighbor runs over your foot with his Cadillac. Two years later you show up at the home of the guy who bought that Cadillac and scream at him for running over your foot. The guy says I didn't even own the car when that happened. You yell at him, you should have known about it before you bought the car.