I would say 200:1 minimum up to 300:1 The bigger the number the bigger the hit the shareholders will take. The problem with the RS is that the shareholders won't take a hit on the day it takes place, they will take their biggest hit on the day it's announced that it's going to happen. One day shareholders may see a message before the market opens that he is doing an RS and everyone will have sell orders in before the market even opens.