Haven't read your post re suggestion to NOT on Spinout's yet, but it may be a good strategy to allow existing shareholders to be the ones to participate in a PP for each new company to the exclusion of non shareholders (keeps dilution to a minimum for true NOT supporters) as the way to refund each when created.

Old Joe

PS: Bank of Canada Held steady on Bank Rate to day. What will the US Fed do on their up comming turm???