First and foremost, and since I have been trading penny stocks for years is the fact that they raised the A/S to 50B and the O/S to 44B with 80% gave or take is restricted. This is on the surface very unusual, and it can only be that upon the new entity becomes a going concern is the reason and I can only surmise that it may be an awesome outcome.
The company had plenty of shares both in the A/S and O/S. Meaning liquidity. There has to be a valid reason and believe it is a positive.