I hear what Turtlefoam is saying and I agree with him. He is just as happy with today's developments as anybody on this board and so am I. But to say the CVR's are not dilutive in nature ignors simple math. An example will help. Let's say that KRY announces (which I doubt they will) that they are going out of business after they receive an award in this ICSID action. Let's say the award is for $1 billion. Let's assume there are no CVR's. They pay off the notes and that leaves them with 880 million. They divide up the remaining award among among the current 365 million shares and send everybody a check for $2.41 a share. Now let's assume the CVR's will eat up 25% (I hope it's not anywhere near that amount) of the award. So you take $1 billion minus $120 million for the notes minus $250 million and you have $630 million left for shareholders. You divide the 630 million by 365 million shares and send everybody a check for $1.73 a share. $2.41 a share is alot better than $1.73 a share. Now let's assume that KRY got their financing with no CVR's issued, but instead issued 145 million more shares to raise the money. That would bring the total shares to 510 million. They now take the $1 billion award minus the 120 million for the notes and divide it by 510 million shares and send everbody a check for $1.73 a share. In the above example, the CVR's reducing the award by 25% would have the same effect on our share price as issuing 145 million shares would have.