The company can't make a go of it on it's own, so they come up with a common desperate move. Plan a new big company based on spreadsheet assumptions. It also involves persuading existing company (first choice) shareholders to sell their existing shares for new (worthless) shares in a company with huge debts that might be paid off in future years (after the existing management have left with their bonuses etc) if everything goes according to a very ambitious plan. Can't see many shareholders falling for it.