My take on a quick read over (eyes get watery leading legaleze) is they are outlining the shares outstanding for JAG and how they will get dealt with. In the end I have been told we all will own shares in the "new" Jag shares and then the corporation will change names to Cardio eventually.

One thing I have noticed is the line waiting for Cardio to finalize the $1.5 million. This is the seed money to get the new "company" liquid going forward for the next year I believe. This may be the fly in the ointment...