Cardinal Resources Inc fka CDNL

[combizzle]

I have some questions I'd love to get some feedback on:

1. The allocation of 500k toward buyback for each "chunk" (3 in total I believe) of the 1st tranche payment equals roughly $1.5 mil (across all 3 "chunks") to be applied toward buyback of the stock correct?

2. The 1st tranche was for 36 million shares at a valuation of $0.104/share and "assuming" the 2nd tranche is the same number of shares at the same valuation, this in total is suppose to equate to 51% of the company right? That would put the OS at somewhere around 140 mil shares when all is said and done? How do they intend to get the OS that low before the reverse split as I am sure the same split would effect the SPA shares as it does everyone else.