I went back last Fall and tried to figure how much

I went back last Fall and tried to figure how much was owed to the note holders. According to the last 10Q,filed last year, as of March 31,2016:

Senior Secured Convertible Notes:
Face value: $5,352,000

Series E Notes
Value: $10,774,000 - $3,137,000 in deemed dividends = $7,637,000

Series H Notes
Value: $9,977,000 - $5,095,000 in deemed dividends = $4,882,000

From what I can tell in the new 8k:

The Senior notes are being “paid” off at 80%
40% of $5,352,000 = $2,140,800 in Avant Stock

40% of $5,352,000 = $2,140,800 in a note at 0% interest due in 9 months, convertible after uplist with restrictions

The Series E and H (total $12,519,000) are being “paid” off at 75%

37.5% of $12,519,000 = $4,694,625 in Avant stock

37.5% of $12,519,000 in a note at 0% interest due in 9 months convertible after uplist with restrictions

So it seems that the note holders would end up owning about $8.8 million dollars of Avant shares which at say 14 cents per share would be 63 million shares. And then there would be about $8.8 million of new notes. This doesn't take into account there have been more conversions since the last 10Q, so the amounts owed should be less than this.

The things I've seen so far that I'm not sure about, are the shares totaling 35% ownership in Cutanogen Corp that the note holders are also getting. The question is what assets are going to be in Cutanogen and what is that entity going to be worth?

The Army cancelled the agreement on ESS. This isn't surprising since AMBS doesn't have the money to start the trial. But it is surprising that they mentioned they may just focus on pediatric burns- why not adult also?

The office address is now 315 Montgomery St., Suite 900 which is a shared office suite setup so they did move down the street. Also GC stopped being paid last August.