Why Z shares has highest value out of all 4 Hycroft instruments.
17.5% of Hycroft in Anti-Diluted basis since Oct 2015 - Sprott & Mudrick please read the court order.
We only have 12.6 Million Z shares - Strike price to be properly calculated based on anti-dilution since Oct 2015.
If someone gets hold of Majority of Z shares - start buying open market .. start from .20 and keep buying till $2 (hypothetical).. let us assume they get in average of $1. They spend total of 12.6 Million to get 17.5% of Hycroft.
Looking at current stock price (going to get delisted soon) - I doubt all of Hycroft other three instrument will get 17.5% of Hycroft. They will go below 10% of Hycroft, rest has to given to Debt and additional equity needed for the company.