I think Rain got something right by saying 120M. Based on what we read, it will be the worst case scenario. That may be the "why" Schwabb want the loan...because they know that there's gonna be a lot of manipulation on the stock. Pretty sure the creditors will want the share going down as much as possible to have more share issued at the closing date of the deal.
That being said, BSR thinks that the dilution will be around 65M more shares according to their expected forecast (remember the 5 millions earning for .05 per share). Their forecast are basically made on what they got from McLLelan and what they believe achievable.
Tomorrow, i will talk with the IR and let you know what is going on.
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