I dont know why someone who didnt own shares of these co's would do such a thing as file those forms without really owning them except to make money some way. Heck some were foreign ones and Chinese cos like ASEJF and you know he wasnt working deals in other countries. Not to mention he didnt own them per the secretary of state websites on some of the ones I remember searching.
But if he could run a couple and people started buying his other shells he could make some dollars. Like imagine getting 500k of one of those shells at .0001 which a lot of them trade and then selling them at .05 or something. He could make some dollars esp if he owned a good amount of diff shells.
Not to mention at the same time period there were IHUBBers getting shares of other shells and actually filing form 4s. Sort of a gimmick they were running. I saw it and they ran some of them to pretty high numbers. So could of been a copy cat type thing.
Its not impossible to own 5-20% of a shell by buying up cheap shares on the market of these shells. So technically someone could buy them and file those legally I guess. But he wasnt filing 5-20, he was filing the full insider amount from the old CEO I believe.
News 
Market Data 
Discover 
