If they get the $25 million for the equipment and refi the note for 2-3 years, they have some very comfortable breathing room.

Arb does not cost that much. OK, maybe a small "Bought Deal" at the new share price. But "small" ($5-$10 million), I would think.

There is no change in a shareholder's take from any settlement. The zeros just move around.

If we get close to Mr. F's original target of $2B that's (not calculating the note pay off, new shares etc. here):

$5.47 at 365,000,000 outstanding shares or $54.79 at 36,500,000 outstanding shares.

Just my opinion. Again.

Wookie