Sorry Murph, I thought it was 1 share new mmg for 1 share old mmg but if it is .5 share new mmg for 1 share old mmg, then my calcs for the value of mmg are somewhat wrong.
The shares go from 62,000,000 to 31,000,000 and the value is 5,900,000/31,000,000= 0.19 or roughly 20 cents