Cividale

I agree with your broker. Bonus + note repayment gives new investors their % share of any potential arb award/settlement. 120 million = say 35-45 % for calculation purposes assuming $ 1 Billion. 55 % goes to common/management therefore if new investors pay 120 million for 35-45 % then the common should go to 40 - 60 cents on the financing news.

For those participating in the new financing, which I'm inclined to do, will fair well.

The book hasn't closed yet. I'm told by late next week but could come sooner.

Good luck.

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