coldnewfie - There is currently only one class of common shares of ZCC which totals about 138 million shares. To start with there was 75 mil and over the years 63 mil were added via PP's to come up to the current total of 138 million common shares outstanding for ZCC.

ZCC owns some assets, which are about 75 million Royalty Preferred Shares of a company called Resverlogix and an operating company called Zenith Epigenetics Ltd also known as ZEL and some of the 1500 molecules that have the best opportunity to become future drugs. Depending on the day and the need for money some of the molecules get moved between ZCC and ZEL to secure whatever amount of loan is outstanding. The entire 1500 molecules were inside of ZEL at one point which formed the IP of ZEL.

As RVXOT explained so nicely, some of the assets of ZEL could be sold off without the need for a shareholder vote as that may be just a small number of the 1500 molecules in the IP portfolio. That would leave both the operating company and the holding company in tact.

If the above situation plays out then we shareholders of the 138 million common shares of ZCC hope that most of the money received from that sale gets dividended out to the ZCC shareholders, which is what DM said in his presentation at the AGM on 27 Oct.

Although that scenario would still leave us with ZCC shares it would put $$ in our pockets now and then we could determine if we wanted to go threw more DM BS or just sell the ZCC shares we owned after we cashed our cheques and call it a day.

One of the best things for us common shareholders is that Eastern Capital owns about 37% of ZCC and has the clout to make sure their share of any distribution if fare and appropriate.

All IMO, do your own dd.

tada