You have taken the "single meaning" approach to Expo Holding's deceitful methods when you have to understand that they employ a multiple-phase approach to sleight of hand "transition". And it's not a new strategy...it's always been here in multiple formats. "Transition" is the "future" carrot on the end of the stick. The thing Harrs and Brown use to keep the share flow going and provide ammunition to the naive to keep hope alive in their scam. And that carrot assumes many forms.
Leadership: JD Brown has already worked hard to get a new puppet leadership in place to take the heat off of himself and Harrs. But that plan is multi-faceted far beyond deflecting blame. This new "CEO", who will likely be "Jimmy" Kendrick, is not actual "transition" but the underlying "see....everything has changed (but it's all still the same)" deception. It is important to realize that one of Kendrick's very first moves will be to assume the mantle of the gruff and serious "Holy crap, this is a LOT worse than I thought" leader stepping in to rescue the sinking ship. He is intimately familiar with exactly what has been going on at Expo Holdings for years, but he will assume this posture of being the new guy walking into a disaster. He will try a few things to show his desperation at righting the un-rightable then, with head hung low, will release the ultimate in both gravely dramatic and apologetic PRs or proxies stating that there is simply "no way out of this" except to dilute further. There will be an angst filled moment as he issues a subtle threat (provided he needs any of the regular common shareholder votes to pass the A/S increase or R/S motion) that "bankruptcy is the only option facing shareholders besides dilution". That will set the stage for two or more years of clear sailing as they pillage the shareholders at a level hereunto ever even dreamed of.
Sales: Kendrick is going to bring some new BS to the table to quiet the restless masses. It will be in the format of a major box store being in negotiations with Expo Holdings for a huge deal. Everyone will naturally assume this is Home Depot or some other store than Kendrick did some largely meaningless consultant work for like thousands of other people. Unlike those other thousands....he will have REALLY stood out with his advice on how to arrange the lighting fixtures in the electric department (or whatever he did) at HD and will have a "sure in" with all the "big boys". It will be as simple as getting a future appointment to talk with a purchasing manager and they will be off to the doublespeak PR races. Little will likely ever come of it in dollars and cents, but Kendrick will be hailed as the "display case Messiah" for months.
Transparency: Once they have released the dilution bomb, transparency will be an immediate easy decision to make. Out will come all the financials and perhaps some Form 3s (except Kendrick's of course). But here is where the future will actually be altered dependant on what real "transition" will be made. Will Kendrick buy out Harrs and Brown or will B&H simply transition into the background and continue feeding at the G&A trough with a ferocity never before witnessed? My gut tells me the latter but I have read good evidence and logic for the former. At any rate, transparency to Kendrick will be a tool. If he intends to do a buy out, he will use the release of some tremendously ugly information to drop the PPS to accomplish this task. This will be done earlier rather than later if he does intend to allow Harrs and Brown to bail scot free and for himself to perform the promised "25% premium" move which will be fed off a share price no higher than .0002. The situation with transparency could also be used in conjunction with the dilution to make a case for a huge reverse split gap of say 1000 to 1 or even higher on the O/S only should Brown and Harrs stay on board. The more horrified the shareholders are at the drop in their equity, the more equity they are likely to unwittingly allow the Wilkesboro boyz to get their hands on in the form of unaffected treasury shares. This being accomplished in the case of the R/S by the remaining shares achieving the increased valuation but not the decreased volume and being worth more and more the higher the split ratio goes. In the case of a simple A/S increase, the better the case for 4 billion or maybe even 8 billion additional shares being added.
All of this is headed Expo Holding shareholder's way. What exact format it will assume is all that is to be decided. And probably the more their plans are published here, the more creative and complex the final plan will become. I just wish I could be among those attributed as doing some good to expose all this springroll, lol. All the above IMHO.
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