"So look at both scenarios and take your pick 98 mill shares and almost 3 bill in debt 150 mill shares with 24-65 bill in assets" I'll use the low of 24B. 24B/52 Mil. = $461 per share value. (WHY would old shareholders want to share this value?) Share it with the existing 98 Mil shares = 150 Mill at $160 Per share. So, If I follow your theory, This $160 stock is floundering because NOBODY wants to pay much more than a measly $14 for it? Puzzling!