Fouremm,

Recall the corporate re-structuring that took effect August 1, 2016. Zenith Shareholders (~125 million shares) own the 75,202,620 royalty preferred shares of Resverlogix. These royalty preferred shares are owned by Zenith Capital Corp (ZCC). Zenith Epigenetics Ltd (ZEL)is now the subsidiary company that is 100% owned by ZCC. 

There have not been any further private placements since this re-structuring took place. If I understand correctly, any further investment deals will be made with ZEL and not ZCC and hence the royalty preferred shares will not be diluted any further. So right now, there are ~125 million shares of ZEL that have an interest in the royalty preferred shares. Future deals will add to the ZEL share count but will not have an interest in the royalty preferred shares.

That's my understanding at least. DYODD!

BearDownAZ