shelby: It would be interesting to find any examples of mergers of two tickers on Grey Sheets, that is, two tickers that were suspended by SEC for questions about adequacy or accuracy of company information, business operations, control of the company, stock trading or issuance, etc. This type* of suspension can apply to SEC-filers and non-SEC filers. SKTO is a suspended non-SEC filer; AEGY is a suspended SEC-filer. As joey pointed out, the SEC must approve of a merger involving a public company. Another wrinkle is that the S forms necessary to advance a merger have apparently not been filed yet with SEC. Thus, finding any cases of mergers as said above would be useful for study.
(*A second type of suspension applies to SEC filers who are delinquent -- not applicable here to AEGY.)