If I'm not mistaken the 700 million cap is after the debt and costs have been paid. The only way to get to 700 million for management is by an award over 900 million.

If management gets to their 700 million cap then that leaves 55% or $385 million to shareholders or $1.00 a share approximately.

This is what I think will be the minimum.

The real incentive for us would be if an agreement could be reached before the appeal and second trache happens.

Our current debt (guessing is about $150 million max right now) if taken off a deal for 600 million right now would eliminate the 35% to Tenor. 600 less 150 leaves us 450 million. Give management 50 million to settle leaving us $400 million or around a $1.00 a share right now.

I'd take it and run for the door.

JJ