So the question is, what is Zenith worth. I'm going to keep the math simple and say that an investment bank engaged to underwrite an IPO sets the value at $100 million.

Now its simply a question of how many shares are already existing, those in the hands of investors who got spin off shares from RVX, and those held by BOD members. And then any fees paid to the underwriters in shares. If we say there are 80M already issued, and that 5MM will pay for underwriting...and the offering will be dilution of 15M....that's 100 million total.

That would obviously give the shares an estimated or assigned value of $1 per. On the day of the IPO those 15 million shares become available....buyers start buying, and those who already have shares now have the ability to sell if they wish. Now normal market dynamics dictate that if demand is greater than supply the PPS will move up, and of course if the supply outstrips demand then the PPS falls.

Of course an underwriter being compensated with shares would have analysts and other parties talking up the issue prior to the IPO in an effort to spur demand and to maximize the value of the shares they were paid.