Understandably the dilution should have caused a PPS trimming. But why not a 25% reduction, 1.6 bil to 2.0 bil shs, starting from $0.25 PPS down to $0.18. IMO $0.25 represents a reasonable value considering the positive results for SMD and AMD. I am sure there are many arguments whether $0.25 is too high or too low but I based it primarily on PPS before the positive results and where it may have been headed before Lanza sold.