SPSA written down (for money received or in some way to keep us owning 20% that at minimum we own - were it was 100%) is super key for common to come out with some meaingful value
If SPSA is fully "paid back at LP count" via splits and new shares or otherwise - common is swamped to some crazy low % ownership
So I guess he was referring to UST restructuring all along and here we were misunderstanding that he was talking about common restructuring. Duhhhhh us