Yes I can.
Hate to get to this point, but your proposal is CRAP.
I re-read it. You said you want to swap. Fine. I'll go with it. Follow my math here
Assume you hold 2.4m share of NDOL, that being 1%. Your goal is to keep the 240m total shares alive, which will then result in a per share value of $5.20 based on the $1.25b.
Now your idea of a swap enters the room. You give away 59% of your shares, because that is what the NWOG guys will command. That leaves you with 41% of the initial share you had, which comes out to 984k. Now multiply your shares times the higher price. That's $5.1m.
Assume they issue the new shares. You sit on your 2.4m, but your value per share is about $2.20. Multiply your share count time share value. It's $5.2m, the difference to the above is rounding.
Any other allocation will get you to the same numbers of value controlled by you.
If you want to refute this, get in touch with me off-line and we can spare the board this non-sense. You are arguing against a guiding principle in Corporate Finance here.
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