Hey Tex, well 10% then 50% would be 55%. Suppose you take 10% of 100 leaving 90, then 50% of that would leave 45. So, overall the two phases would cause a 55% reduction. But the bigger question is reduction of what? What is the O/S? I think we can cross 10B off the list. Personally I would be thrilled if we are under 20B. We just can't know.

The PR I hope for is one about friendly financing that can put near term dilution risk from convertible notes and credit lines to rest.