Ann: AGC Agreement termination paves way for commercial partner, page-4

I'm not so sure on all of this, obviously AGC are taking 22m shares and diluting us by 8% on $2.5m they have already paid us to try and recoup some of their money they have paid RGS, yes at 16c but then we have this unkown extra where I can't work out what they would think the JV is worth or is it in the company:

"As part of the termination of the agreement, Regeneus will acquire all of AGC’s shares in the joint venture at a price equal to 50 per cent of the Company’s value as at 31 December 2018"

So the company closed at 18c on December 2018 but they talk of 50% of the company's value, not the JV value, it's rather ambiguous??!!