The 90M shares is the maximum number of common shares they can currently issue under their articles. This could be changed by the new shareholders and the might need to to take into account the three sets of warrants. Ignore the par value for determining what a share might actually be worth. If they stay at 90M shares, the break-out should be 58.5 new common issued to the OpCo Note Claims (65% diluted), 13.5M for A Warrants (HoldCo Note Claims) 15% diluted, 9M B Warrants (current shareholders - lower strike price) (10% diluted) and 9M C Warrants (current shareholders - higher strike price) (10% diluted) - adding the B and C gets 20% diluted. If that is the case, then you would get only about 1 B Warrant and 1 C Warrant for each 6.5 shares of stock (~15%). They probably would want to leave room for more shares, so there might be a greater concentration. However, they would need to increase the allowable common to about 600M shares so that there is enough for 1 B Warrant and 1 C Warrant for each current share of stock (the percentages would be the same (65% new common, 15% A, 10% B and 10% C) - again, probably higher if they want to leave room to issue more stock in the future.
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