If all this is true it would seem that Samblis would need to take punch&assets back and then attempt to re-brand both punch and vu into something else with a different name, and try to mend bridges that collins burned.  This could probably be attained partially by reaching out and explaining that collins was a crook and using his refusal to abide by the recission and his actions with the stocks as evidence.  Perhaps if he did those things he could perhaps generate some semblance of goodwill and thus turn this into a viable company that people are willing to invest in.  He would also have to take a few steps back,remove his name from the company and find someone else (with at least a semi-squeaky clean reputation) to run the company at least temporarily, if not permanently. imo   Good luck with convincing him to do all that though.