Various structures possible. This paragraph:
Management is interested in effecting a restructuring transaction with a 3rd party whereby the tax attributes of Futura remain available for future use. "We are open to a transaction with companies in a like business to Futura, or another business." If the entity with who Futura transacts is not a like business, the transaction must ensure that no change in control occurs.
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Could imply that more value could be extracted from the $26 million tax loss if the company continues in some form, rather than selling to a bidder. But then Futura or whatever or another company (via reverse merger maybe) must be profitable to take advantage of the tax losses.
If "not a like" business shows up and makes a deal with Futura, the new company will not gain control of the merged entity .I think in shell cases the private company coming in usually wants control. But management here seems to have no intention to have Futura as a shell. They may be saying.., want to join and use our tax losses, management and even access to financing, then we will remain in control.
I don't know if this might discourage potential bidders. This can get complicated with all the combinations possible. And management says in recent court documents that: "Various structures are available to achieve the necessary results".