My guess is that the FD relates to the cash that could be raised if all the options and other dilutives are exercised. Remember for example that Agoracom has options to buy 250000 share as would the senior execs. It is however hard to believe that it could make up all that difference.

On another item all the discussiona about AT 5 seems to have been missed by Genuity. They are calling it a miss while Rosedale called it a tactical manuevour.

bb