versus tendering your shares to Not appears to be the better option with respect to the following.

I will use the following figures for explanation purposes.

Option1,

Held 49,000 shares of FWR and tendered to NOT, and received 14,000 shares and 7000 warrants of NOT.

Option2

1)Sell 49,000 shares FWR @ .89.=$43,610 and purchase 18,100 shares of NOT @2.40.

Price goes to $4.00 and sell

Option 1 amt = $64,000............Option2 amt = $72,400.

Price goes to $5.00

Option1 amt = $70,000 + $7,000= $77,000......Option2 amt =$90,500.

Price goes to $8.00

Option1 amt =$112,00 + $28,000=$140,000.....Option2 amt =$144,800.

Price goes to $10.00

Option 1 = $140,000 + $42,000= $182,000........Option2 amt =$181,000.

As you can see anything below a sell at $10.00 Option 2 appears to be the better option.

Anyone see any arguments to this scenario?.

Tks RR