if debt to equity swap?

Lets said that we are facing a debt to equity swap:

So what would be the possible outcome:

At current price of 5 cents:

We need to issues 500 Millions of new shares to swap $50 millions parcel of debt (which is just chicken feed compare to our debts). I think we need at least 10 billions of new shares to swap $500 Millions of our debt at current price. It is just too delusive.


My guess is the management are doing some debt to equity swap base on a higher prices. Think of BBIL deal at 18 cent s a share. After new share issues, then Share consolidation could be an option.

What do you think?