Exactly, and it is in that very notion, that ASYI, as it has no more revenue stream since divesting it's means of revenue, per the last 10Q, has become what the SEC Law defines a SHELL. A shell of it's former self.
In order to complete a reverse merger with any candidate, it must clean it's shell, as the following attests to. We will not know until the next filing whether it has or hasn't done the due diligence of cleaning up the shell that remains; and given that they have submitted their financials, albeit late, they have I am assuming done this for a reason.
Where do Public Shells come from?
Naturally: From failed businesses
If a company has a valid business plan, goes public, attempts to implement that plan but the business fails, the company becomes a public shell, i.e. the shell of its former business.
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