If you hold 1,000,000 shares now.
Then you would receive the option to buy,
375,000 shares at 0.001 costing $375
then you would get half that number in free options
so 187,500 options which you can pay 0.00111 to convert to shares.
That was from memory, so I may have the option bit wrong.
Hence Hold 1,000,000 shares now allows you to end up with 1,562,500 shares for $583.
MAAAATTTEE that sounds like a good deal to me and after that a bit of trading time before the consolidation. DYOR