Dime Bancorp Inc (fka DIMEQ)

[ScottC]

according to revised warrant agreement, it appears we get diluted:

Value delivered to the LTW holders regardless of means (stock, cash etc.) should be Adjusted Litigation recovery/Number of warrants outstanding. I worked through the calculation using my numbers and the original warrant agreement from 2000 and got the following:

Adjusted Litigation Recovery = $255,886,646.23
Avg Px of Dimeq = $20
Adjusted Stock Price = $19.99
LTWs outstanding = 112,975,607
Number of Shares of Common Stock purchase at $.01 = .11331
Cost of Excercise = $.00113

LTW Value = $20 X .11331 - .00113 = $2.265

However if I use the methodology suggested in this report from 2003

http://www.secinfo.com/dRM18.229.htm#1stPage

I get a different value:

LTW = (Adjusted Litigation Recovery/Merger Adjusted Stock Price) X 1/112975607

= (255,886,646.23/22.46) X (1/112975607)

= .1083 Shares = $2.017/warrant

Anybody have any thoughts here?