alea, thanks, so the 2:1 as guessed, warrants at the money of last close, shares at 20% discount. I guess my first cash guess was better. 7.3m sh @ .65 = $4.7m half that in warrants = $3.0m overallotement = $1.2m = $8.9m which is pretty much them going as big as they could based on guessing whats left on the shelf.