Ann: Proposed Amendments to Secured Amortising Notes, page-8

That figure you've come up at, 1:16, is interesting, and I haven't even done the sums myself yet, as the total shares of AJQ is fluid and self-superceding.
However, for the purpose of the exercise, 1:16 would equate to 62500 p/million shares held.
IF, the IPO called for 0.20 share price, that would equal $12,500 for each million shares held, or part thereof.
But there's also talk of the shares being held in escrow, possibly to stop holders flooding the market and capsizing the MOG s/p.
Myself, I would seek to reclaim some of my current losses in Armour, and I think they'll foresee that.