KBC, Don did not address the division of value specifically. He did say that he felt that once the newco is public and in phase 1 that on it's own it would be worth more than $1. Just his opinion though and obviously that per share value will be influenced by what vehicle he takes to go public, ie the reverse takeover route he spoke of or just a standard listing of the private co. Judging by his comments during and after the meeting it would seem that taking the newco public is a high priority for him. JMO but I imagine that the split has been done, from an accounting perspective, so that any value creation in the newco can be deemed to have occurred after the formation of the corporation in order that nothing taxable is created until such time as a shareholder sells shares. Again JMO