If you look at the details, wherein the devils always are, CWS has been late filing its list 4 out of the last 6 years. Otherwise, I'd have been jumping up and down saying, "See. CWS isn't even in business."
As for the merger, the Merger Agreement is quite clear that APII NY is what actually merges with CWS and will cease to exist. CWS is supposed to continue as a subsidiary of APII Florida, which ceased to exist when a NEW entity was created in Nevada, Corewafer Industries, and APII Florida was merged with it.
There has been no merger - or not one according to the terms of the Merger Agreement at least. There has been the appearance of a merger, which I believe was quite intentional.
Whether there will ever be a merger is still up in the air and whether it will be worth anything to shareholders if it does happen is an even bigger unknown.
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