I received a reply to my inquiry as to whether Eastern's investment would result in dilution of Zenith Capital Corp. The answer as I suspected is yes, once the split into ZCC and ZEL is effected Eastern will own roughly 38.6% of each company. Don confidently said in January that one of the reasons for the split was to protect current holders of what will become ZCC from further dilution of its' only asset, post split, the RVX preferreds. I am assuming that Eastern gave Don a refresher course on the golden rule as Don has failed to deliver on no more dilution. It will be interesting to see how quickly the reorg comes to pass now that the terms of the placement have been agreed upon. The upside to this, in my view, is 1) obviously Zenith is now cashed up and Eastern has given us a defacto two thumbs up on the Zenith program. A program to which they are obviously privy to much greater detail than we retailers are 2)given that Eastern has obtained a larger chunk of RVX preferreds I see even more motivation for them to move to protect that investment by renewing the RVX LoC guarantee when it comes due. Of course not the primary motivator but worth consideration. JMO