CJR

I agree! It's tough to get a real handle on shares o/s and as their current financials are not available it's tough to know for sure. We are forced therefore to go back to Sept. 08 and extrapolate from that point. Shares o/s could very well be higher as you said which would impact the net funds generated from Can. Cap.

For point of discussion, assume the 391 million o/s was in fact 20 % higher, prorate the Can Cap allotment at 15 % and I generate approx. USD 35 million or USD 6 million net higher than using the 391 mill. o/s - marginal USD diff!

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