Not wrong, Ward.
The definition used by NG in their accounting did not offer a free lunch. It was rectified in the bottom line. Don't you agree?
That is much different from what HISC has done by stating that the conversion makes float shares more valuable. I will concede that both definitions are valid. In HISC's case, only the definition I offer is valid. I have seen it both ways. Either way they must come out as common dilution or come out as reduced equity. I reiterate, there ain't no free lunch. You, who makes a living bean counting should know and SALUTE to this!
Now show me that 'free lunch' line.
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