No details yet except (1) Biortica will be $380k to creditors...

No details yet except (1) Biortica will be $380k to creditors (that covers the bank over draft - was there more debt left on last report but not sure), and (2) meeting for SHs to vote soon.

I think it will be Biortica valued at an even number of millions (say $18mil) vs existing BOD valued at just <$1million.

So the offer, may
(1) Biortica pays the outstanding debt.
(2) Existing share holders keep your shares but Current shares compressed in exchange 10:1 so 177,333,333 shares becomes 17,733,333 shares (this may happen after the proposed merge too).
(3) Biortica gets 17,333,333 x 18 shares in a script for script deal (ie 319,200,000 shares)

Final result existing shareholders have 5% ish in Biortica

Just a guess.