Total Sports Media Inc. (fka TSMI)

[Pathfinder85]

Can someone explain this to me, or point me out to a better explanation of what it means for the PPS?

"The Company also entered into a binding letter of intent to acquire, on or before October 1, 2012, all of the business and assets of RadioLoyalty, Inc., an affiliate of Michael Hill, in consideration for the issuance to the RadioLoyalty™ shareholders of approximately 90% of the total issued and outstanding stock of the Company at the time of the acquisition. Lux plans to acquire RadioLoyalty™ and change its name and trading symbol appropriately. "

Assuming the company doesn't have 90% of the total issued and outstanding, they have two options to provide this 90% as far as I can tell.... buy back shares to then give RL, or issue more overall. Am I wrong?