Whopster,
That math is so wrong, it's better if you didn't put this on a public board and freak out other financially inept investors.
In your assumptions, you assumed the market price of CMM, but not the market price of WTG... you used your estimated fair value instead. Either use market price for both, or estimated fair value for both (most investors here estimate CMM to have a fair value of over $1).
Once you get both company's market cap, you don't multiply it by 0.61 and 0.39... you simply add them together because the new corporation is the sumation of the two previously independant corporations.
For the number of shares... you multiply CMM's current shares outstanding by 0.4, which is how much WTG shares we are getting (rather than multiplying it by 0.61) and you add that number to the current number of WTG shares outstanding.