Conversion Solutions Holdings (fka CSHD)

[RonnieD]

it depends, haley. I was Rodan in the cc, asked later in part 4 about this. The spinoffs will not usually be, in your example, 2% of CVSU = 2% of spinoff. CVSU usually takes a 40-60% equity stake in the spinoffs. So it's really 40-60% of 2% per spinoff. Don't forget, the spinoffs are separate companies with separate management, and separate insider ownership.