If someone "buys" it I think you'd see them BUY new shares then do a reverse split. If you were able to buy 50.1% in the open market all you need to do is report your buys over 10% and then call the transfer agent and tell them you are the new sheriff in town and that you are changing the corporate address. Called a "hostile takeover". Or, you can just buy 10%, be an insider and call a board meeting...being that you will be the only one to show up you are now free to elect yourself :D (depending on their rules). Just incorporate in Nevada so you only need to have 3 board members...maybe only 1 board member.
My gut says that the guys involved in this company have long forgotten their involvement in it and want nothing to do with the shell anymore.
The other cool thing is for a $3-5k take over the company and file BK, wipe out all the shareholders and you got yourself a fresh and clean entity without doing much work and probably for about $10k.
OR...you can probably track down the losers who own most of this company and just offer them $5k for their 'troubles' and have the shares put in your name, but if you do that expect a long drawn out slap in the face.
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