Assuming they could get a PE of 20, to push the share price to just 10 cents they would need earnings of 0.5 cents per share. Assuming 1 billion shares (post merger) that means earnings of $5M p.a. (or equivalent value in shares of the clients, assuming that is how some of the payments will be made).
At 20% margin, revenue would need to be $25M.
Assuming companies would be willing to pay $25,000 for the advice of a startup with an appalling track record in the running of its own business, that would mean they would need 1000 such paying customers per year. That is 5 new fee paying customers per working day.
Think about those figures.
They aren't going anywhere unfortunately.
The above figures also assume that they have managed to pay off all the debts and fines currently owing. They also would need to obtain creditable staff who would be willing to work for IOUs for a few years.
You are also expecting customers to enter some contract with Amergence, when Amergence is on record of having breached two contracts in the past (BTEK and Cofco).
Use your own figures if you don't like mine. But the only figures that can spell survival will be from fantasy world.