The merger could be excellent, if and big if, they had pristine officers as leaders. Disposing of all debt wood be foremost in my mind. Get all convertible notes out. If we have cash flow, I would never give a note out again. I have seen notes kill companies. I saw one, where the new corp bought out a very profitable second corp only to have the note rescinded (because they could'nt make the note deadline) and the profitable corp got their company back. Plus all cash disbursements made in the acquisition.