RE:Hypothetical - Wango, your proposition is effectively 10 shares of RCG for 3 share of OS.
The consolidation is not going to resolve RCG's liabilities.
As for the 10 shares of RCG to 3 shares of OS.
I say the value is the other way around.
Each RCG share has $20M of tax credits worth say $10M.
Each RCG share is worth ($13M+$10M)/175M shares = 13.1c/sh
So, roughly 2x an 6c Osprey share.
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caveat : McBain cautioned against expecting a "relative jump to 20 cents a share or something of that nature".