maybe im misreading your post but are you suggesting that if dime is ruled as class 21 that this "influx" of new shares would precipitate the loss of the $5.4 bil nol???? as i see it a TOTAL of 200 mil of newco shares will be issued irregardless of the dime ruling. as i see it all that changes is that percentage owned by existing commons will be reduced from 30% to anywhere between 10-15%....thus preserving the $5.4 bil tax benefit for the newco.