Throwing this out into the forum....feel free to comment.

Today

7 shares of FWR = 5.32

2 Shares of NOT = 4.58

At today's close you can get 2.32 shares of NOT for 7 shares of FWR on the open market.

If you tendered your shares to Noront....

And NOT goes to $5 you have $10 value plus an extra $1 value from the warrant = $11.
That's 2.2 shares of NOT.

And NOT goes to $6 you have $12 value plus an extra $2 value from the warrant = $14 2.33 shares of NOT.

And Not goes to $7 you have $14 value plus and extra $3 value from the warrant = $17 2.42 shares of NOT

If you expect NOT's SP to do extremely well than their latest offer is looking better as you speculate the increase. If you expect to be out of here before $6 (where else can you make that kind of return?) than you best play the open market.

This deal is morphing all the time with daily fluctuations in SP's and is better or worse as the gap between the two narrows or widens respectively...

Brattymack

PS. I used to think Wes hated us retail investors. After todays interview I think I could be wrong. He gives 5 word answers to everybody!