This refashion took me longer than it really should have. But I finally got it the way I wanted and here is how it was done.
I took my shirt and folded it in half and made a crease with my iron.
Along that crease cut up your shirt. Leave 6 to 7 inches between your cut and collar.
I then determined how much fabric I needed to cut. You will need a triangle cut, and about 2 inches longer in length so you make a hem at the bottom. Also give yourself enough for a seam allowance on the sides, and the point of the triangle.
Fold your end up once, iron, then fold it again and iron.
Sew a straight stitch
Here is my triangle with the hem.
Now pin your shirt and fabric together. I started at the bottom of the shirt on each side and worked my way up.
Once its pinned go ahead and sew up either side.
This is for the sleeves. Make a little bit of bias tape. I only needed about 6 inches.
Cut the collar, and sleeves off you shirt right at the seams.
Next try on your shirt. See if you want to take it in at all on the sides. I ended up taking my in about 2 inches on both sides. The way I did this was by marking an inch and drawing a line and pinning the sides together so it wouldn't move as I was sewing. Then also used the line as a guide.
Now for the shoulders, I took the bias tape and sewed it on the hem of the shoulder, just on the outsides. Once I did that I turned my ends to the inside. Had them overlap just a tad and zig zaged stitched right in the center.
There you go a new tank top for summer.