Cloudward Inc. (CDWD)

[psl]

Here is the 8K:
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5884528

I do not believe that the deletion of Tripath shares consitutes a cancellation of the shares as they talk about conversion of the Etelos - WA shares into the Tripath shares 3 to 1. Tripath is the surviving entity which changed it's name to Etelos Inc. Sounds like the Tripath shares are being cancelled and new equivalent shares of Etelos Inc issued 1 for 1. So the existing TRPH stockholders will get new Etelos Shares. Where am I wrong?