If I'm understanding the 8K correctly, they(Elvictor Greece) is taking over control of the ELVG commons(95%) from the old TheEnablers shareholders, and cancelling their preferred holdings, which would have converted into 80M common shares.
This is excellent news, more like what were use to seeing in a traditional RM, plus now the o/s is only 21M, which before, fully diluted, could have been over 100M.