Hey SN,

Currently, CMM has 471mm shares fully diluted

http://www.centurymining.com/s/ShareStructure.asp

The new company will have 0.4 * 471 + 100 = 288.4mm

I had a brain fart that overstated the new company's O/S by 100mm shares... but my main point is that there will be less shares outstanding than what CMM currently has.