I'm glad you agree that exchanging 1 million in liabilities, for 200 million shares that can't be sold for 12 months, with the expectation that OS will be severely reduced during the next 12 months (likely during the next 4 months), is beneficial to shareholders.
That's all that needs to be said about this.
As far as other things, such as when BB will take place and how many shares, those are different issues not connected to the above.
Always check for water before diving in head first.............