Nowhere near that many shares would be required to deliver the $26m in stock. As this stock's price comes into alignment with the company's value post-merger, the pps should be high enough to avoid such large numbers of shares. At .50/share, which is a very reasonable valuation of a post-merger Rontan/GDSI, only 52m shares would be needed to satisfy the $26m in stock. The higher it goes, the fewer shares required.
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