How can shareholders not have there holdings made null and void...

How can shareholders not have there holdings made null and void given creditors have lost money? At .4 cents you need 1.25 billion shares to be issued to add to the existing couple billion shares all ready on issue to get $5 million. Part of which is lost to pay for the misfortunes of the past. I can only think that the reason for not voiding them is to encourage past shareholders to throw more money in to make back what was lost to date. Curious to see the offer document sell this. Like others I just want to see the performance data cause I don’t believe in it ever really worked as it was made out.