All I did was simple math. And I did a premium as well, since I only used 160 million FWR shares in the calculation to get the 0.6% of in situ value....

Also, this offer is not on the table now. IF SPQ drops in the future to the more historic price range of 5 cents (about the 3 year average, excepting for a couple of months), that would be a 50% premium.

I personnally do not believe that an initial offer will come in at 8 cents, certainly not now. However, it can also be argued tht an initial will not come until the SP drops from current high levels.

Cliff's basically has a couple of years to out wait our more impatient retail investors. They won't even have to manipulate the price, since lack of interest will cause our SP to settle lower.

I am still long on SPQ, and since I have made enough profits on the stocks so far, the shares I have still hold are free, so even at a 1 cent SP, they are making me money. All I am warning is that our patience will be tried... This story is far from over, unfortunately.