I'm not a securities lawyer, but my guess is that Heddle sees value in keeping PTOI current because otherwise he'd risk having the SEC shut it down. Heddle can potentially make a few hundred more $K selling the shell to the next scamster who wants to go public.

He's a paper discussing the SEC's recent crackdown on shells (which would be the reason I think Heddle wants to keep it current):

https://www.bu.edu/rbfl/files/2014/03/RBFL-V....ardner.pdf