Ann: UUV Aquabotix to Acquire One Click Life Business, page-23

Please forgive me if my quick math is off. But the way i see it;
$4.76mil market cap currently (HC m/cap) = approx 2.4 bill SOI
20:1 split + minimum $4.5 million cap raise at 2c = 345mil shares at 2c so $6.7mil market cap?

For oppies holders, 20:1 split then new strike of 2c basically means initial loss of 100%?
(eg. Hold 1mil of oppies at 0.001 = value $1k currently, this becomes 50k shares. With strike at 2c this is $1000).
So no premium to hold over just buying thru cap raise?
Again please forgive me if the math is out or ive over simplified!