To allow the PYCT scam to generate the most cash moving it to a new clean, low OS count shell and changing the name to Mibella would be the best move. Simply reversing would send it crashing back to .0001 far faster since this scams reputation is known far and wide in the penny world.
As for whats owed the toxic financiers - they can just give them commons in the new entity to dump right out of the gate.
Converting any more shares now would be rather pointless as buyers are scarcer than hens teeth these days - even on PR days the volume declining with each fluff PR issued.
Problem is, and why they havent done this so far, is their genuine fear the SEC will finally crack down on them and shut them down. Their strategy thus far has been to keep a low profile and just milk a few marks here and there for a few bucks. They know they are being watched, which is why they relocated outside the US. Even if they are shut down it would be tough for the SEC to physically get a hold of them. There is a warrant out for Dominion of Melchizedeks Pearlasia Gamboa (goes by numerous aliases) but she is still on the loose in the Philippines. Her pseudo ex husband Pedley made the mistake of being in the US and is serving time in the pen. If John Banks declared PYCT didnt fulfill its end of the deal and failed to develop the product and get it on the shelves he could just retake control of the product and "sell" the product to a new shell - possibly controlled by the same people running PYCT using different names. Banks had to be pretty desperate to get involved with PYCT to begin with - so its unlikely any legitimate company would be interested in the B9 Film used in the product now. Especially with the poor global economy and people unwilling to pay more for eco-friendly products. Even real companies like TOMKIT are just small niche companies selling small quantities and arent even remotely major players in the pad biz.
Yes indeed, should be an interestng summer as the scam continues to burn cash paying themselves and their cohorts.
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