So you exchange shares for a company that isnt much to begin with, sell the shares off to new bagholders, throw a bunch more stuff in the pot like "selfhelp" and take over all liabilities, walk away with a cool mil or more, then think about the next play.
Next move is announce "the deals" and after the stock fizzles you announce a R/S of 1 for 1000 basically screwin all the bag holders.