Replies to post #2140 on Newlead Holdings Ltd. (fka NEWLF)

[erikthebassist]

exactly, can not exceed the "the greater of" a and b

[Mister Two]

Yes but you just typed it wrong yourself...

It appears to me that the "and" is just comparing the two things that they can't exceed, i.e. the 15% and the $65K. The agreement says they "shall not" offer shares in excess of 15% and (not or) $65K. The "and" is simply stating the two things that it cannot exceed.