On this issue, I don't think they are creating a new share "structure". Rather, they are adding to the existing one. Even though they are creating a "new" access point for institutional buyers, whom in the past were prohibited by self regulation. I still think the outstanding float will be calculated by individual shares... and with respect to further dilution...well, we were faced with that possibility anyway: We need money to prove Black Horse!!! I don`t for a minute, think that anyone`s intent was to disguise the large float, but rather to side step restrictive regulations imposed on the institutions. Furthermore, I think that the institutions will create demand by buying and not selling, thereby driving the price of both individual and super shares up. I think the institutions want to be in for the long haul , and as the sellers becomes rarer and rarer the ask will have to go higher. At one (or more) point there will be a private placement(s) but I think they will have a very precise purpose (drilling, development, M & A etc...) As the share price goes up, the amount of dilution will be inversely proportional and wont hurt as much as we may fear NOW, given that it will be accompanied by regular positive news releases and forward progress. We have to remember that whether the dilution occurs by the purchase of singles or supers, the funds received are proportional... so the super share do not create more dilution than the single shares...they just act as a multiple of the single share dilution. JMHO, good luck to all KWG longs, Pear3
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