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ChuckBits

12/15/15 4:33 PM

#5621 RE: BerryH #5617

Can't say I disagree with your sentiment here. However, unit holders were always going to get a ton of shares at this low range PPS. I believe the black-scholes value of each unit used for a "cashless exercise" is $21.60

At today's close of .135, that means 1 unit would convert to 170 common shares!

21.60 / .135 = 160, plus the 10 common, so 170 total. The only reason I see to take the "128 offer" is if the common PPS rises above .17 cents.

Maybe the play for unit holders is to take the 128 offer & then cancel it before Jan 13 if the PPS is below .17?